# March 24: Gold V-shaped Rebound Not a Reversal, 4450 Under Pressure, Remain Short

**Market Review:**

Gold opened lower at 4469.46 USD/oz in early Asian trading yesterday. Short-term rebound followed, successfully filling the gap and touching the intraday high of 4535.81 USD; subsequently, bulls encountered resistance and the market reversed sharply downward, with a one-sided decline. By late Asian session, it plunged to the intraday low of 4099.12 USD.

After touching the low, gold price staged a rapid rebound, returning above 4500 USD briefly in early US session, but bullish momentum quickly exhausted. Following rebound resistance, it entered range-bound consolidation, ultimately closing at 4406.40 USD. The daily volatility was severe with an intraday range of 436.69 USD; compared to last Friday's close of 4503.13 USD, it declined 96.73 USD intraday, a drop of 2.15%.

From the daily chart perspective, gold maintains an overall downtrend. Breaking below the 100-day moving average is a key signal of trend weakness, with the 200-day MA near 4100 USD serving as critical medium-term support.

Currently, gold price is rebounding marginally from support with insufficient upward momentum. A rebound breakthrough above 4450 USD may test 4500 USD resistance; below, closely monitor 4305 USD support; effective breakdown will probe further toward the 4100 USD zone.

On indicators, MACD green columns below the zero line are expanding, strengthening bearish momentum; RSI approaches the 25 oversold region, requiring technical correction in the short term, but overall structure remains weak.

The 4-hour timeframe exhibits shock-biased bearish structure. Short-term MAs in bearish alignment, price rebounds continuously suppressed by MA resistance. Upside focus on 4450-4500 USD range; if breakthrough fails, weakness persists; support below at 4300 and 4100 USD—breaks open new downside space. MACD remains in negative territory; short-term bearish trend unbroken, be cautious of rebound corrections post-oversold.

**Gold Trading Strategy:** Short in batches at rebound 4440-4460, stop loss at 4480, target 4350

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