3.16 Gold short-term bearish sentiment not faded, rebound under significant pressure

Gold is experiencing a shock pattern of weak recovery after a cliff-like plunge. The Asian session early morning saw a sharp decline, briefly breaking through the key 5000 USD level, touching a low of 4967, followed by a quick rebound. Currently consolidating weakly in the 4080-5030 range. Overall, it is being suppressed by a stronger US dollar, high US Treasury yields, and delayed Fed rate cut expectations.

From the 4-hour chart perspective, the Bollinger bands are opening downward. MA5, MA10, and MA20 still maintain a standard bearish alignment. During the gold price rebound, it has been repeatedly suppressed by moving averages multiple times, with poor rebound persistence, indicating that short-term bearish forces have not completely faded. The rebound is only a technical correction rather than a trend reversal. From the 1-hour chart, the RSI indicator has slightly recovered from the oversold zone with the gold price rebound, but still remains below 50 in the bearish zone, suggesting weak bullish strength. The MACD fast and slow lines show signs of forming a golden cross, but momentum is insufficient to support a sustained gold rebound. Watch for resistance at 5050-5080 above; if 5050 doesn't break, the rebound will be difficult to sustain. A stable hold above 5050 could see a small rebound. The Asian session approach follows a high short bias strategy.

Gold Operation Strategy: Rebound 5040-5050 light position short, stop loss 5070, target 5000-4090: Light position, strict stop loss

Disclaimer: The above content is only sharing personal thoughts and views, and does not constitute operational advice.