3.20 Jian Xi Midday Review

Gold tested the 4-hour MA120 key support level yesterday and welcomed a technical rebound. In early trading, it continued upward from the 4650 level, with obvious buying support below. Short-term has entered a oscillation repair phase. Above, first pay attention to the 4745 resistance level to see if it can break through effectively, which will directly determine the rebound space of this wave.

From the 4-hour level perspective, the overall trend is still in a bearish pattern. Although the downtrend has slowed, there is short-term rebound demand, but this is only technical repair in the downtrend process, not a trend reversal. @

Operationally, the rhythm should be clear: short-term can light position trade the rebound, overall layout remains primarily bearish. Above, 4860 is a strong resistance zone with strong pressure, conservative investors can wait for price to rebound to this area before choosing to set up short positions for better value. $XAUT