3.18 Jianxi Midday Review: Rally Fades Under Pressure, Key Support Defines Bulls vs Bears

Gold surged in early trading but lacked momentum, retreating quickly after touching 5015, consecutively breaking below the Bollinger Band midline and short-term moving averages, testing lows near 4986. Currently oscillating weakly around 4991. Overall pattern: rally followed by decline, short-term trend biased toward weak consolidation with intensifying bull-bear conflict.

Fundamentals: Middle East geopolitical tensions support safe-haven demand, Fed rhetoric remains cautious, rate-cut expectations remain uncertain, combined with imminent major US data tonight, funding sentiment shows strong wait-and-see approach. Profit-taking from higher levels triggered the pullback.

Technical: On the 5-minute chart, gold retreated after hitting the upper Bollinger Band, breaking below the midline and approaching the lower band, with the band opening downward—short-term bearish signals are pronounced. Currently approaching the key support at 4980—4985. If this level breaks, further downside likely; stabilization here could lead to a rebound recovery.

Dip-buy strategy near 4970—4980 if stabilized, in tranches
Continue buying on further pullbacks to 4940—4960
Direct market strength, add long positions near 4990
Targets: 5000, 5050 and above #古巴领导人回应美国威胁 $XAUT