Market News: On Friday, March 20th, gold staged a rebound, currently quoted near 4720. Despite the sharp short-term decline, the long-term bull market rationale for gold has not completely collapsed. Geopolitical risks persist, with conflicts in the Middle East potentially escalating at any time; the depreciation pressures on the global monetary system have not vanished. If oil price pressures ease or central banks are forced to shift towards an easing policy by 2026, gold could still regain its upward trajectory. Key support levels remain clearly visible; although the correction has been significant, it also provides a potential buying-on-dips window for rational investors. Of course, risks cannot be ignored: if the Iran conflict continues to escalate, oil prices keep rising, and central banks further reinforce their hawkish stance, gold may continue to face downward pressure. Investors need to closely monitor crude oil trends, subsequent statements from the Federal Reserve, and changes in inflation data.

Crude oil prices are fluctuating downwards, currently quoted at 94.4. U.S. crude oil inventories grew beyond expectations, indicating weaker demand performance; the pause in attacks on energy infrastructure by Iran and Israel suggests a marginal easing of tensions in the Middle East; the U.S. issued permits easing sanctions related to Russian oil and stated it might consider lifting sanctions on offshore Iranian oil, shaking the foundation for oil price increases. International crude oil prices have experienced significant volatility.

Gold Trend Analysis and Strategy: Gold fell sharply again yesterday, finally closing with a long lower shadow line candlestick. The appearance of a long lower shadow indicates that gold has touched support below. Furthermore, it is noteworthy that gold closed back above the weekly middle Bollinger Band yesterday, suggesting that support near the weekly middle band at 4617 remains effective. Gold may initiate a rebound relying on this weekly middle band.

On the four-hour chart, gold declined and then recovered. If no further new lows are made today, gold could form a V-shaped reversal pattern. In that case, the阶段性低点 for gold might be at 4502. The main resistance above is currently near the middle Bollinger Band at 4853. A break above this level would signal a new round of rising行情 for gold; otherwise, a period of low-level consolidation cannot be ruled out. Therefore, our strategy today remains to look for opportunities to anticipate further反弹. Support below can be watched near the short-term moving average at 4665.

Crude Oil Trend Analysis and Strategy: Crude oil surged yesterday but then fell back, closing negative. Although it still holds above the 10-day moving average, upward momentum is clearly beginning to falter. The 5-day moving average has also started to turn down. If the conflict does not escalate, there is a high probability of a corrective adjustment occurring. In such a case, watch for support near the daily middle Bollinger Band around 83.

On the four-hour chart, the Bollinger Bands are flattening, and crude oil is moving in a震荡走势. While there are no immediate signs of a breakdown on the short-term chart, the daily chart shows fading upward momentum. Therefore, buying at the bottom of the current range is not recommended today. However, waiting to sell at the top of the range might also be unrealistic. It is advised to wait for the price action to develop before entering a position. If a correction does materialize, consider going long again near the support around the daily middle Bollinger Band at 83.