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Gold Pulls Back After Sharp Decline, Oscillation Range Trading

Digger Lao Mao
March 20, 2026

The essence of trading is finding certainty within uncertainty, patiently waiting for opportunities that belong to you, which is more important than frequent trading.

Gold experienced a sharp pullback in early trading yesterday, with prices quickly declining from highs before stabilizing temporarily. The close maintained a narrow oscillation pattern with cautious positioning between bulls and bears, and no strong reversal signals have emerged in the short term. The market is currently in a closed state, with the new trading day opening soon. Short-term trading will continue to be primarily oscillation-based.

From a technical perspective, the 15-minute BOLL band is widening downward with prices trading below the middle band. Short-term moving averages maintain a bearish alignment, with the lower band support providing some floor to prices, while upper band resistance continues to suppress rebound strength. The overall bearish trend remains dominant with relatively limited rebound potential. In the medium to long term, we remain bearish.

Operationally, maintain a low-long high-short approach. After the new day opens, focus primarily on oscillation range trading within the temporary range, with an overall preference toward shorting at highs. Watch support zone of 4580-4600 below; if pullback holds above, light positions can trade for short-term rebounds targeting 4650-4670, with stop loss below 4560. Watch resistance zone of 4670-4680 above; if rebounds face pressure, continue shorting with momentum targeting 4620-4600, with stop loss above 4700. Strictly implement stop loss risk management, avoid being stubborn with positions.

⚠ The above analysis is merely a personal trading perspective and does not constitute any investment advice. Markets carry risk; trade with caution. Any profits or losses from acting on this are your own responsibility.
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