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Gold news: On Monday (March 16), due to the sharp declines in global stock markets, U.S. stocks experienced their worst single-day drop in over 30 years; circuit breakers were triggered three times within a week. The need for liquidity continued to drive investors to sell gold in order to obtain cash, which caused gold prices to fall by $120 on Monday, reaching the level of $1,450. However, gold saw several rallies in the late trading session, recovering some of its losses, and closed at $1,514.5 per ounce. As monetary policy tools run out, the market will expect countries to introduce more fiscal stimulus measures, which will have a direct impact on the recent trends in stock markets and gold prices. The U.S. February “terror data” released at 20:30 on Tuesday, Beijing time, has the potential to trigger a fierce battle between bulls and bears. It should be noted that, affected by the pandemic, a large number of retail stores in the United States have closed down recently. If retail sales figures fall short of expectations, gold bulls may take this opportunity to regain the ground lost yesterday. Technical analysis of gold: On the daily chart, the Bollinger Bands are expanding outward; the MA5 line has crossed below the MA10 line, indicating a strong downward trend. The candlesticks are trading near the lower boundary of the Bollinger Bands. The MACD fast and slow lines have crossed each other below the 0 axis, with significant green momentum indicated by increased volume. The KDJ lines also form a cross pattern, suggesting a gradual downward trend. Overall, the daily chart shows a clear bearish trend ； On the 4-hour chart, the three bands of the Bollinger Bands are moving downward. The MA5 and MA10 moving averages form a death cross with a slight narrowing of the gap between them. The candlesticks are located near the MA5 average, within the lower half of the Bollinger Bands. The fast and slow lines of the MACD are below the zero line; they form a death cross and are moving slightly to the right, with decreasing green momentum. The three lines of the KDJ indicator remain closely aligned to each other and are moving upward slowly. Overall, the gold price shows a weak trend in the short term. Overall, it is recommended to adopt a long-position strategy for intraday trading. Above, the resistance level is around 1510; further resistance can be found near 1550. Below, the short-term support level is 1470, with further support available around 1450. Trading strategy for US Gold (GC04): Strategy 1 – Enter short positions near 1550; set a stop loss of 5 dollars, with targets around 1530/1510 ； Strategy 2: Go long around 1450 below, with a stop loss of 5 dollars and a target around 1470. Reading notes: Investing involves risks; proceed with caution when trading. This analysis is for reference only and shall not serve as the final basis for placing orders.