Gold Rebound Hits Resistance, Continue Bearish, Medium-to-Long Term Direction Unchanged
Gold Digging Old Cat March 20, 2026
The essence of trading has never been about prediction, but about response. Every fluctuation is a test, every perseverance is growth. Maintain your rhythm and you can go far steadily.
During the midday session, gold maintained narrow range consolidation, with prices repeatedly sawing between 4650-4680. After a sharp rally in early trading, it clearly encountered resistance. The bulls' rebound momentum was weak, and the overall bearish structure remains unbroken, with the downtrend dominated by bears still clear.
From a technical perspective, although the current price temporarily stabilized on the BOLL middle band, resistance near the upper band at 4735 is extremely strong. The moving average system still shows downward divergence arrangement. The rebound failed to break through key resistance levels, and the overall bearish structure remains unchanged. The short-term rebound looks more like a correction within a downtrend, with significant downside room ahead.
Strategy-wise, we continue with the high-short approach. On rebounds to the 4695-4705 range, we can progressively add short positions in batches, targeting 4655-4645. If there's a strong break below, we can further look toward below 4630. If unexpectedly breaking above the 4736 key resistance, we'll adjust our thinking and follow the trend accordingly.
Medium-to-long term direction unchanged, continue bearish, targets at 4500 and 4400 remain firm. The current rebound is merely providing a better opportunity for superior high-short positioning. Patiently await price pullback to realize medium-to-long term targets.
⚠ ️The above analysis is merely a personal trading idea sharing and does not constitute any investment advice. Markets carry risks; trading requires caution.
Gold Rebound Hits Resistance, Continue Bearish, Medium-to-Long Term Direction Unchanged
Gold Digging Old Cat
March 20, 2026
The essence of trading has never been about prediction, but about response. Every fluctuation is a test, every perseverance is growth. Maintain your rhythm and you can go far steadily.
During the midday session, gold maintained narrow range consolidation, with prices repeatedly sawing between 4650-4680. After a sharp rally in early trading, it clearly encountered resistance. The bulls' rebound momentum was weak, and the overall bearish structure remains unbroken, with the downtrend dominated by bears still clear.
From a technical perspective, although the current price temporarily stabilized on the BOLL middle band, resistance near the upper band at 4735 is extremely strong. The moving average system still shows downward divergence arrangement. The rebound failed to break through key resistance levels, and the overall bearish structure remains unchanged. The short-term rebound looks more like a correction within a downtrend, with significant downside room ahead.
Strategy-wise, we continue with the high-short approach. On rebounds to the 4695-4705 range, we can progressively add short positions in batches, targeting 4655-4645. If there's a strong break below, we can further look toward below 4630. If unexpectedly breaking above the 4736 key resistance, we'll adjust our thinking and follow the trend accordingly.
Medium-to-long term direction unchanged, continue bearish, targets at 4500 and 4400 remain firm. The current rebound is merely providing a better opportunity for superior high-short positioning. Patiently await price pullback to realize medium-to-long term targets.
⚠ ️The above analysis is merely a personal trading idea sharing and does not constitute any investment advice. Markets carry risks; trading requires caution.