Gold plunges then weak rebound, shorting remains the main theme

Diggin Gold Old Cat
March 19, 2026

The essence of trading is not prediction, but following the footsteps of trends and pursuing returns that belong to you within controllable risks.

During midday, gold maintained narrow range oscillation, with prices repeatedly grinding between 4840-4860, still in the recovery stage following yesterday's sharp decline. The rebound strength is weak with no strong reversal signals appearing, and the pattern dominated by short positions remains unchanged.

From a technical perspective, on the hourly chart the price is pressed against the Bollinger Band middle rail and moving average resistance. Rebounds have encountered obstacles multiple times and fallen back. Although the lower band shows slight hooking upward, the overall opening still diverges downward, with a clear bearish trend. The 4865-4870 region becomes the current key resistance band. If gold's rebound fails to break through this range, it will continue the downward trend. Below, support is first seen at the 4820-4800 region. After a breakdown, it will further open up downside space.

In strategy, we continue with the shorting approach. Enter in batches when gold rebounds to 4862-4868 range, with targets first at 4830-4820, further looking at the 4800 level, with stop-loss positioned above 4880.

——————
Disclaimer: The above analysis is only a personal trading idea sharing and does not constitute any investment advice. Markets carry risk, trade with caution.