Jin Dachuan 3.24 Gold Morning Analysis



Although gold prices showed a slight rebound in early trading, it is a weak recovery after a sharp decline, not a reversal of the uptrend. The rebound encountered resistance at around 4510 and fell back. The trapped long positions above are heavy, and the short-dominated pattern remains unchanged. The rebound is merely a bull trap and wash-out. The Asia session today is still expected to trend down, with rebounds used for shorting.

From the short-term trend perspective, 4450-4500 is the core resistance zone for today. The 15-minute MACD death cross has formed, and bullish momentum continues to weaken. Even if there is oscillation around 4400 in the short term, it is only a continuation of the downtrend. After the indicators complete their repair, prices will continue to decline, and the trend-based downward opportunity is clear.

Short at around 4380-4360 on rebounds, with stops above 4400. Target levels are 4260-4180, with further downside seen below 4100.

Risk Disclaimer: Investment carries risks. Enter the market with caution. The above analysis is for reference only and does not constitute investment advice.
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