3.19 Gold Rebound is a Shorting Opportunity, Long Position Breakeven is Imminent

Gold's sharp decline has left many investors holding long positions at higher levels. Without cutting losses, most are likely in a trapped position now. Given the current unfavorable market conditions, it's basically difficult to exit at breakeven. If you're also holding trapped positions, feel free to communicate with me. I can develop a corresponding liquidation strategy based on your situation!

Market Review: Gold opened at $5011 yesterday, reached a high of $5016, but bulls lost momentum. During the European session, it suddenly plummeted and quickly dropped to $4900. The US session extended the decline with a low of $4800, with a daily drop exceeding 200 points.

On the daily chart, bearish alignment is evident, MACD green columns are expanding, RSI is oversold but shows no reversal signs, KDJ is oversold. On the 4-hour chart, price has broken below the 5-day, 10-day, 20-day, and 30-day moving averages. The short-term downtrend channel is fully open, and the medium-term uptrend has been destroyed. The MACD indicator shows a death cross with expanding negative values, bearish momentum is concentrated. However, the KDJ K-value has dropped to 13.66, entering a deep oversold zone with short-term technical correction expectations. Current key support is at 4800-4780 USD. If it stabilizes in this range, a minor rebound may occur. If it breaks, it could further decline to the medium-term support zone of 4700-4600 USD. Watch for resistance at 4900-4950 USD. Despite brief stabilization, no reversal has appeared—bears remain in control.

Gold Trading Strategy: Sell short on rebounds at 4870-4880 in batches, stop loss at 4920, target 4800.

Disclaimer: The above content is merely personal thoughts and perspective sharing, and does not constitute trading advice.