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2025-09-15 11:49:34
[Technical Analysis: Spot Gold May Consolidate Between $3,623 and $3,674] 1. Technically, spot gold may consolidate within the $3,623 to $3,674 per ounce range for one or two days before either falling sharply or resuming its upward trend. 2. After hitting a high of $3,674 on September 9, gold prices have been trading sideways below this level for several consecutive days. Clearly, the market is undergoing a period of consolidation. A sudden surge to $3,674 is possible. However, the sustainability of such a surge is questionable, as a forward analysis of the uptrend since $3,312 indicates strong resistance at $3,685, or the 261.8% level. 3. Following a break below $3,623, gold prices could retrace further to the $3,539 to $3,591 range. On the daily chart, a forward analysis of the uptrend since $3,264 suggests that gold prices will remain within a narrow range between $3,624 and $3,653, striving to maintain a flat trend. The daily RSI looks extremely overbought, indicating a downside bias.
