Gold price range: $4480-4580

Hello everyone.

Today is Tuesday (March 31).

Q: How will gold prices trend today? Has the aforementioned “lower triangle” breakout been confirmed?

Answer: From a technical point of view, the previous “lower triangle” breakthrough is currently in the correction, confirmation and consolidation stages.

Trading range: $4480-$4580.

Price Levels: Gold prices have held above the psychologically important $4,500 level for several consecutive trading days, which is the first positive indicator of the validity of the breakout.

Correction confirmation: As long as the $4500-4520 range remains stable, the rebound structure will remain intact.

Next Target: If support is confirmed, the next target for buyers will be the psychological levels of $4,580-$4,600 and more importantly the 100-day moving average (around $4,630).

The market is cautious before the release of non-agricultural data:

The U.S. non-farm payrolls report for March will be released next Friday (April 3). The market tends to wait and see, which may cause gold prices to fluctuate within a narrow range this week.

Resistance: $4580-4600

Strong resistance: $4630-4650

Support: $4520-4500

Key Support: $4470-4450

Strong support level: $4400-4350

Q: What is the specific trading strategy for the next market?

A: In view of the release of non-agricultural data on Friday, the market may remain range-bound before the data is released. We recommend a “range trade, buy the dip” strategy, using small positions and setting strict stop-loss orders.

Here are the specific strategies we offer our followers:

Strategy 1: Buy on dips (main strategy)

Entry point: focus on the $4520-4500 area.

Target price level:

First target price: $4580-4600

Second price target: $4,630

Stop Loss: Set below $4,480.

Strategy 2: Sell at key resistance levels (buy the dip, be cautious)

Entry point: If gold rebounds to the $4,600-4,630 area and shows signs of recession, a small sell position can be opened.

Target price: around US$4550-4520

Stop Loss: Set above $4,650.

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