3.27 Gold Investment Early Review: Gold Experiences a Cliff-like Correction! Bears Have Full Control, and Any Rebound is a Good Opportunity to Short!
Midnight gold prices fluctuated fiercely, dipping to yesterday's intraday low of 4351, followed by a sharp surge of nearly 50 dollars within 5 minutes, showing a rebound after hitting the bottom.
Global risk assets collapsed across the board, with the three major U.S. stock indices plummeting, as safe-haven funds quickly flocked to the dollar, directly blocking the upward path of gold. Coupled with technical pressure at high levels, multiple bearish factors triggered a rapid decline in gold, causing short-term profit-taking funds to exit the market.
From the 1-hour trend, gold broke through the core support level yesterday, and the current price is operating near the lower Bollinger band, with short-term moving averages forming a bearish arrangement, making the downward trend clear. The KDJ indicator is in the low range, indicating oversold conditions, and there is a high probability of a slight rebound for short-term correction, but overall it still tends toward bearish.
Position to short in the 4420-4440 range, targeting 4380 and 4350.
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