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2025-10-29 20:37:32
[Spot Gold Technical Analysis] Observing the 60-minute chart, gold prices previously fell from a high of 4154.54 along a downward slope, reaching a low of 3886.51 before forming a V-shaped rebound. During the rebound, Fibonacci retracement levels formed a clear "stepped resistance-support" system: the 0.618 retracement level is at 3989.15, which is the first line of defense for the bulls; the 0.500 retracement level is at 4020.79, and the current price is hovering around this level; the short-term high above is seen at 4029.50; the 0.382 retracement level is at 4052.43, and a break and hold above this level will target the 0.236 retracement level at 4091.57; further up, dense trading volume and historical resistance levels are concentrated around 4130, forming a "strong resistance zone" with the previous swing high of 4154.54. In terms of momentum indicators, the DIFF of MACD (26,12,9) has crossed above the DEA, and the histogram continues to expand, indicating that the momentum after the volume breakout is still being released; RSI (14) is near 62.39, has not yet entered overbought territory, and has room for upward movement. Overall, the downtrend line has been broken upward, and the market is in a technical rebound phase. If 4020.79 is effectively converted into support, the price is expected to advance step by step towards 4052.43 and 4091.57; if it falls back below 4020 and breaks below 3989.15, then we need to be wary of a pullback to the 3972-3910 range, and a deep pullback may retest 3886.51.
