3.18 Jian Xi Noon Review: Rally Pullback Encounters Resistance, Key Support Defines Long/Short

During morning trading, gold rallied but lacked strength, touching 5015 before retreating quickly, subsequently breaking below the Bollinger midline and short-term moving averages, with lows reaching 4986. Currently oscillating weakly around 4991, overall showing a rise-then-fall pattern with momentum shifting to sideways consolidation, intensifying the long/short tug-of-war.

From a fundamentals perspective, Middle East geopolitical tensions support safe-haven demand, the Fed's statement remains cautious, rate cut expectations remain uncertain, coupled with major US data releases approaching this evening, funds are adopting a wait-and-see sentiment, with profit-taking at higher levels driving gold back down.

On the technical side, gold on the 5-minute chart has pulled back from the upper Bollinger band, breaking below the midline and approaching the lower band, with the Bollinger Band opening downward, showing clear short-term bearish signals. Currently approaching the 4980—4985 key support; if breached, further downside is expected, while stabilization could lead to a rebound recovery.

Pullback to 4970—4980 stabilization, batch long positions
Correction extending to 4940—4960, continue buying dips
If the market turns bullish directly, follow long orders near 4990
Target: 5000, 5050 and above #古巴领导人回应美国威胁 $XAUT