Gold Analysis on 2026/03/06

Yesterday's daily chart was a bearish candle.

It stopped at the daily middle, but since it closed below the starting point of the previous day's bullish candle, the outlook remains bearish.

The 4-hour chart is bearish due to a renewed drop from WT, but it is near the 200 MA where it has bounced several times in the past, so even if it goes down, it may be pulled back by wicks.

If it breaks lower, the decline could be quite strong, so long-term accumulators should be careful with their position sizing.

Defensive buying line

5023

4928

4850

Defensive selling line

5126

5189

5236

Because it is the weekly confirmation date and job report day, trading cannot be fully recommended.

Especially since it is touching the short-term moving average on the weekly chart, movements may consist of a rebound followed by a breakout that negates the rebound, making it a day prone to whipsaws.