March 30 Gold Morning Outlook

Last week, gold experienced a deep V-shaped reversal with intense market fluctuations. At the beginning of the week, gold prices plunged sharply under selling pressure to 4098, hitting a four-month low. Subsequently, it stabilized above the key support level of 4100, with bargain hunters entering the market and driving a strong rebound. On Friday, the single-day increase was nearly 3%, closing firmly above 4495. The weekly chart shows a long lower shadow doji, indicating a clear sign of a trend reversal.

Currently, the short-term downward momentum of gold is weakening, entering a phase of stabilization and correction. The core support for the rebound is around 4450-4460. Resistance above is strong at 4600-4630. In the short term, the market will mainly fluctuate and recover, with the rebound target initially set between 4600 and 4800.

Trading suggestions: Consider buying near 4440-4460 with a target of 4530-4600, and implement strict risk control.