Wang Jinxuan: Gold Daily Line Oscillation Uptrend Structure Remains Intact - Gold Price Movement Analysis Today

Gold Price Trend Analysis:

On March 13, gold has experienced deep corrections during midnight over the past few days, followed by rebounds during the daytime, causing the price to oscillate within a large range again. The 5000 level support is crucial; if gold continues to hold above 5000, the overall range-bound pattern remains, and buying on dips is still advisable. The daily chart shows a continued upward oscillation, indicating that the bull market structure is intact. Short-term pullbacks are normal corrections; market fluctuations are inevitable—prices can’t rise or fall forever. Currently, the 4-hour chart shows gold still trading within a broad range, with the 5000 support level remaining key. Holding above 5000 could lead to further rebounds; a decisive break below 5000 might test support around 4850. Watch resistance above 5200.

Considering the recent pattern of “deep corrections at night and rebounds during the day,” this trend confirms the stability of the current oscillation. Neither bulls nor bears have gained absolute dominance, and there isn’t enough momentum to break the range, resulting in repeated tug-of-war between highs and lows. Under this rhythm, a one-sided trend is unlikely in the short term; the market is more likely to continue consolidating within the range, gradually rising during the day on support, while at night, profit-taking and sudden news shocks may cause sharp corrections. However, these corrections are quickly absorbed by buying interest, preventing sustained declines.

From a technical perspective, the daily chart’s upward oscillation trend remains intact. Moving averages are aligned bullishly, and each correction stabilizes at key support levels, indicating the foundation of the bull market is still solid. Short-term pullbacks are healthy adjustments within the upward trend, representing accumulation rather than trend reversals. On the 4-hour chart, gold prices remain within the broad range, with regular fluctuations. The 5000 level is a core support—it’s not only a psychological milestone but also a critical level tested multiple times without breaking. Its success or failure directly influences short-term direction: holding above 5000 suggests the range-bound pattern continues, and dips are opportunities to buy; a confirmed break below 5000 (and stabilization below) could disrupt the current balance, leading to a short-term decline toward support around 4850. At that point, it’s prudent to adopt a cautious approach, reducing long positions and avoiding further downside risk.

The resistance near 5200 is equally important. Recently, gold has repeatedly rebounded near this zone but faced selling pressure due to waning bullish momentum and profit-taking, forming the upper boundary of the range. If gold can break through and stabilize above 5200, it would break the current stalemate, extending the daily upward oscillation toward the 5250-5300 zone. Conversely, if it fails to break this resistance, prices are likely to retreat toward the lower boundary of the range, maintaining the “deep correction at night and rebound during the day” pattern.

Additionally, considering recent market conditions—uncertainty in US-Iran geopolitical tensions, oscillations in the US dollar index, and fluctuating gold ETF holdings—these factors contribute significantly to gold’s volatility. They are unlikely to clear up quickly, making rapid breakout trends unlikely. Overall, future operations should focus on the oscillation pattern and bull market structure, with the 5000 level as a key reference. Support levels should be used to buy on dips; take profits near resistance at 5200. If support breaks, it’s advisable to stay on the sidelines or lightly short with targets around 4850, always following the trend and strictly managing positions to navigate the volatile range.

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Editor: Chen Ping