March 11 Gold Morning Latest Trend Analysis and Trading Strategy

Yesterday, during the US session, gold traded sideways at high levels. It appeared to be under pressure and facing resistance, but in reality, the resistance is being digested and the support is being solidified. The price repeatedly oscillated while testing higher levels, which precisely indicates that the bullish momentum is gradually weakening and being suppressed. The most critical signal on the chart is at the 5155 level. Both times it tested the bottom, it quickly stabilized and rebounded, upgrading from a technical support to a short-term bullish core defensive line. As long as this level is not effectively broken, the overall short-term structure will remain strong.

Although gold briefly broke above the 5200 level overnight, it failed to hold steady, triggering a pullback, which shows that the bullish momentum has slowed. Meanwhile, the bears have not mounted an effective counterattack, and the market is temporarily in a state of balance between bulls and bears. The current market has reached a crucial decision point: the key support below is at 5155. If it is broken, the short-term bullish logic will be invalidated. The main resistance above is in the 5238-5240 range. Only a confirmed steady break above this zone can open up a new upward space.

In terms of practical strategy, today’s range is set at 5155-5240, with a focus on buying low and selling high. If the support at 5155 holds and the price maintains a sideways upward trend, focus on long positions on dips, with partial positions around 5160-5280, targeting the resistance zone at 5220-5240. If the price can break through strongly and stabilize above 5240, the trend will switch to a one-way bullish move, and traders can follow the trend to the upside, aiming for the 5300 round number.