Gold Crashes Then Weakens Rally, Shorting Remains the Main Theme

Digging Gold Old Cat
March 19, 2026

The essence of trading is not prediction, but following the footsteps of the trend, seeking returns that belong to you within controllable risk.

Gold maintained narrow-range oscillation during midday trading, with prices repeatedly grinding in the 4840-4860 range. Overall, it remains in the recovery phase following yesterday's crash, with weak rebound strength and no strong reversal signals appearing. The pattern dominated by bears remains unchanged.

From a technical perspective, on the hourly chart, price is under pressure from the Bollinger Band midline and moving average resistance. Rebounces have encountered obstacles multiple times and retreated. While the lower band shows small upturned signs, the overall band opening continues to diverge downward, with a clear bearish trend. The 4865-4870 region becomes the current key resistance zone. If gold cannot break through this range on rebound, it will continue the downward trend. Support below is first seen at the 4820-4800 region. After breaking this level, further downside space will be opened.

Strategy-wise, continue the shorting approach. Enter in batches when gold rebounds to the 4862-4868 range, targeting first 4830-4820, then further 4800 level. Set stop loss above 4880.

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Disclaimer: The above analysis is only a personal trading idea share and does not constitute any investment advice. The market carries risk; trade with caution.