# 3.23 Gold V-shaped Rally Recovers 4400, US Session Still Looks at 300 Points

The gold price opened lower near 4472 this morning, with a minor rebound to 4536 before facing pressure and collapsing. Market sentiment deteriorated across the board, with bottom-fishing funds rapidly withdrawing. During the European session, bears accelerated downward again, breaking through four major round numbers consecutively at 4400, 4300, 4200, and 4100. The lowest point touched 4097, with an intraday decline exceeding 8.7%, nearly giving back all gains from 2026, marking the largest single-day decline since March 1983, with the bearish trend completely dominating the market.

From a technical perspective, the daily line shows a massive bearish candle with the trend completely broken; the hourly Bollinger Bands have opened downward, with price running weakly along the lower band, continuously pressured below short-term moving averages. The short-term rebound momentum is extremely weak. On the 1-hour chart, after a V-shaped sharp decline, there was a quick recovery. The MACD shows a golden cross below the zero line with converging green columns and insufficient momentum. The RSI indicator has rebounded from the oversold area without showing reversal signals. The rebound lacks fund support, and price continues to oscillate around the Bollinger Bands. Watch the 4500-4550 resistance zone above. For the US session, the strategy is not to bottom-fish, but rather to use short-term rebounds to sell short as the optimal approach.

**Gold Operation Strategy:** Sell in batches on rebounds at 4500-4480, stop loss at 4520, target 4250-4200 with light positions and strict stop losses.

Disclaimer: The above content is merely personal thoughts and viewpoints sharing and does not constitute operational advice.