3.16 Gold short-term bearish sentiment intact, rebound under pressure

Gold has entered a volatile consolidation pattern with weak recovery following a cliff-like plunge. Asian morning session saw a sharp decline, breaching the key 5000 USD level at one point, touching a low of 4967, followed by a quick rebound. Currently consolidating weakly in the 4080-5030 range. Overall pressure comes from a stronger USD, elevated US Treasury yields, and delayed expectations for Federal Reserve rate cuts.

On the 4-hour chart, the Bollinger Bands are opening downward, with MA5, MA10, and MA20 maintaining a standard bearish alignment. Gold price faced multiple moving average resistance during rebounds, showing poor rebound persistence. This indicates short-term bearish forces have not fully dissipated, with rebounds representing technical corrections rather than trend reversals. On the 1-hour chart, the RSI indicator slightly recovered from oversold territory following the gold price rebound, but remains below 5050 in the bearish zone, suggesting weak bullish momentum. MACD fast and slow lines show signs of forming a golden cross, but momentum is insufficient to support sustained gold price rebound. Pay attention to 5050-5080 resistance above; if 5050 doesn't break, rebounds will struggle to persist. Standing above 5050 could see minor rebounds. The Asian session approach follows a high-level shorting bias.

Gold trading strategy: Rebound at 5040-5050, light short position, stop loss 5070, target 5000-4090: light position, strict stop loss

Disclaimer: The above content is for personal thought and viewpoint sharing only and does not constitute trading advice.