3.20 Jian Xi Midday Review

Gold rebounded technically after testing the key 4-hour MA120 support level yesterday, continuing to advance from the 4650 area in early trading, with obvious buying support below. Short-term has entered a shock and repair phase. Focus on the 4745 resistance level above; whether it can be effectively broken through will directly determine the rebound space for this round.

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

In terms of operation, the rhythm should be clear: short-term traders can take light positions to capitalize on the rebound, while the overall layout should still be dominated by high shorting. 4860 above is a strong resistance zone with significant pressure. Conservative investors can wait for price to rebound to this area before choosing to establish short positions for better value. $XAUT