3.16 Gold short-term bearish momentum not yet fully dissipated, rebound faces clear pressure

Gold is experiencing a weak recovery oscillation pattern following a cliff-like plunge. The Asian session opened with a sharp decline, briefly breaking below the key 5000 USD level, touching a low of 4967, before quickly rebounding. Currently consolidating weakly in the 4080-5030 range. Overall price action is pressured by USD strength, elevated US Treasury yields, and delayed Federal Reserve rate cut expectations.

On the four-hour chart, Bollinger Bands are opening downwards. MA5, MA10, and MA20 remain in a standard bearish alignment. During rebound attempts, gold price is repeatedly constrained by moving averages, showing poor rebound sustainability. This indicates that short-term bearish forces have not fully dissipated, with rebounds representing only technical correction rather than trend reversal. On the one-hour chart, the RSI indicator has slightly recovered from oversold territory following the gold price rebound, but remains below 50 in the bearish zone, suggesting weak bullish strength. MACD fast and slow lines show signs of forming a golden cross but lack sufficient momentum to support sustained gold price rebound. Watch the 5050-5080 resistance level above. If 5050 does not hold, rebounds find it difficult to extend. Establishing above 5050 can trigger minor rebound moves. The Asian session approach follows a high-sell strategy primarily.

Gold Trading Strategy: Rebound at 5040-5050 light short positions, stop loss at 5070, target 5000-4090; use light positions with strict stop loss

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