3.27 Investment Gold Evening Review: Risk Aversion Maxed Out! Gold Faces Resistance After Surge, Pullbacks Signal to Go Long
Gold dipped to 4375 during the day before surging to a high of 4475, directly breaking through the critical resistance level of 4450, followed by a noticeable selling pressure at high levels. The short position suggested at 4470 during the afternoon saw gold prices drop to a minimum of 4404, realizing a profit space of over 70 dollars!
The significant decline in U.S. stocks has become the core driving force for the rebound in gold; despite the persistent pressure from the Federal Reserve's high interest rate expectations, market sentiment remains cautious before the employment and inflation data are released this week, with funds reluctant to take aggressive short positions.
On the 1-hour chart, after gold prices surged to the upper Bollinger Band, they retreated and are currently running close to the middle band, with short-term moving averages turning downward. The MACD red bars show a significant decrease in volume, and the rebound momentum has weakened considerably. The overall trend is bullish, but there is a strong demand for short-term adjustments.
Positioning long orders in the 4400-4410 range, targeting 4440 and 4470.
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