3.20 Jian Xi Afternoon Review

Yesterday, gold dropped to the key support level of 4-hour MA120 and welcomed a technical rebound. In early trading, it continued to rise from around 4650, with obvious buying support below. Short-term has entered a shock repair stage. Above, first pay attention to the 4745 resistance level to see if it can be effectively broken through, which will directly determine the rebound space of this round.

From the 4-hour level perspective, the overall trend is still in a bearish pattern. Although the downtrend has slowed, there is a short-term rebound demand, but this is only technical repair during the decline, not a trend reversal. @

In terms of operation, the rhythm should be clear: in the short term, you can take light positions to trade the rebound, while the overall layout remains primarily bearish. The area above 4860 is a strong resistance zone with strong suppression; conservative investors can wait for the price to rebound to this area before choosing to set up short positions, which offers better value. $XAUT