Gold Falls Sharply Then Slightly Rebounds, Short Positions Still the Main Theme

Gold Digger Old Cat
March 19, 2026

The essence of trading is not prediction, but following the trend, seeking profits within controllable risk.

At midday, gold remained in narrow range-bound consolidation, with prices repeatedly oscillating between 4840 and 4860. Overall, it is still in the recovery phase after yesterday’s sharp decline, with the rebound strength relatively weak and no signs of a strong reversal. The bearish dominance remains unchanged.

From a technical perspective, on the hourly chart, the price is under pressure from the middle band of the Bollinger Bands and the moving average resistance. Multiple rebound attempts have been met with resistance and pulled back. Although the lower band shows a slight upward turn, the overall opening remains diverging downward, indicating a clear bearish trend. The 4865-4870 zone has become the current key resistance area. If the gold’s rebound cannot break through this range, the downward trend will continue. Support levels are first seen at the 4820-4800 zone; a break below would further open the downside space.

Strategy-wise, continue with the shorting approach. Enter in stages on rebounds to the 4862-4868 range, with initial targets at 4830-4820, and further down at the 4800 level. Place stops above 4880.