2026-03-17 01:17:32

Yichen: Shorters crushing! Gold's 5000-point defense line wavering, sharp decline imminent!

From a technical perspective, the gold price on the 4-hour chart remains firmly pressured below the Bollinger Band middle line at 5077, trading in the middle-lower band bearish zone, with the lower band at 4944 serving as a key support level. The MACD indicator's dual lines remain below zero, and although there is minor recovery, the bearish-dominated pattern remains unchanged, with weak histogram red column momentum making it difficult for rebounds to break through key resistance levels.

From a fundamental perspective, Middle East conflicts have not further escalated, with risk-off sentiment rapidly receding; simultaneously, Federal Reserve officials are intensively releasing hawkish signals, with market rate-cut expectations continuously cooling, and a strengthening US dollar index directly suppressing gold prices.

Suggestions:
Sell in batches near the 5030-5050 rebound, targeting 4950, 4900

Disclaimer: The above analysis is for reference only and does not constitute investment advice. Risks from trading based on this are your own responsibility. $XAU

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