3.18 Jian Xi Midday Review: Rally Fades Under Pressure, Key Support Determines Bull-Bear Dynamic

Gold rallied weakly in early trading, touching 5015 before rapidly falling back, consecutively breaking through the Bollinger middle band and short-term moving averages, with lows testing 4986. Currently oscillating weakly around 4991, showing an overall pattern of rise followed by decline, with short-term momentum appearing oscillatory and weak, and intensified bull-bear struggle.

On fundamentals, Middle East geopolitical tensions support safe-haven demand, Fed rhetoric remains cautious, rate cut expectations remain uncertain, compounded by approaching major US economic data tonight, creating thick observation sentiment among market participants, with profit-taking exits at higher levels driving gold prices lower.

On technicals, the 5-minute chart shows gold rallying to upper band before retreating, breaking through the middle band and approaching the lower band, Bollinger bands opening downward, with clear short-term bearish signals. Currently approaching the key support of 4980—4985, if broken, further downside likely; if stabilized, rebound recovery expected.

Pullback to 4970—4980 stabilization, accumulate longs in tranches
Correction expands to 4940—4960, continue buying dips
Breakout strength directly, follow long orders near 4990
Targets: 5000, 5050 and above#古巴领导人回应美国威胁 $XAUT