3.20 Simple Xi Noon Commentary

Yesterday, gold tested down to the 4-hour MA120 key support level and welcomed a technical rebound. In the early session, it continued to rise from the 4650 level, with obvious buying support below, and short-term entered a consolidation and repair phase. Above, pay attention first to the 4745 resistance pressure, whether it can break through effectively will directly determine the rebound space of this round.

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

In terms of operations, the rhythm should be clear: short-term can take light positions to trade the rebound, while the overall layout remains primarily bearish. Above, 4860 is a strong resistance area with strong suppression, stable investors can wait for prices to rebound to that range before positioning short orders, which offers better value. $XAUT