Midnight Raid! Gold shorts gain another victory, precision positioning is now

Digging Gold Old Cat | 2026.03.16 around 11:30 PM

From the current 1-hour chart and overall structure, gold has continued the intraday weak downward momentum, with technical and news factors aligning bearishly.

On the technical side, price is currently trading below the middle band of the Bollinger Bands, with the lower band (around 4990) still exerting downward pull, short-term moving average groups showing bearish arrangement and suppressing rebound strength; meanwhile, price has broken below the intraday key support zone of 5010-5005, with further downside targeting the previous low area of 4967-4970, while upside resistance is concentrated around 5020-5025. If rebounds fail to stabilize at this level, the downtrend will continue.

On the news side, there are no major data impacts this evening. The market is still digesting previous NFP and inflation expectations. The US dollar and US Treasury yields maintain strong oscillations, continuing to suppress precious metals with no significant positive signals to reverse the current weak pattern.

In comprehensive assessment, the midnight trading main theme remains biased toward highs and shorts. Operationally, it is suggested to position short orders at 5020-5025 on rebounds, targeting 5000-4990 first, with further downside to 4970 on breakdown. Stop loss placed above 5035; if price directly breaks below 4990, light positions can chase shorts toward 4970. Do not blindly bottom fish going long.

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Disclaimer: The above is only personal comprehensive analysis of technical and news factors, does not constitute any investment advice. Markets carry risk, operations require caution.