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2025-10-31 22:01:08
[Spot Gold Technical Analysis] Observing the 30-minute candlestick chart, spot gold is generally exhibiting a range-bound trading pattern. The price structure shows that after the previous upward wave from a low of $3915.35 to a high of $4046.13, gold prices have recently entered a period of consolidation at higher levels. The price faces resistance at $4035.70, $4046.13, and $4060. On the downside, the psychological level of $4000.00 forms the first line of defense, with further support levels at $3988.91 and $3960.00, and the strongest support at the previous low of $3915.35. Looking at the MACD indicator, the current DIFF value is 2.24, the DEA value is 1.36, and the MACD histogram value is 1.76. Although both the fast and slow lines remain above the zero axis, indicating that the medium-term trend is still bullish, the small and converging MACD histogram values reflect a weakening of bullish momentum. From a candlestick chart analysis, the left side of the chart shows a relatively smooth upward trend, with the price steadily climbing from $3915.35 to $4046.13. During this period, it repeatedly tested support levels before continuing its upward movement, indicating a bullish dominance. However, the price encountered resistance after reaching the high of $4046.13 and subsequently fell back, entering a period of consolidation, reaching a low of $3988.91. Gold prices then rebounded again and are currently consolidating around $4020. This pattern of repeatedly testing resistance levels but failing to break through effectively reveals a weakening of bullish momentum. If gold prices cannot break through $4046.13 with significant volume in the short term, there is a possibility of a downward retest of the $4000 support level. Overall, the technical indicators on the 30-minute chart show a mixed picture of bullish and bearish forces. While the MACD is above the zero line, its momentum is weakening, and the RSI is neutral to slightly bullish but with limited upside potential. In terms of price structure, gold prices are trapped in a consolidation range between $4000 and $4046.13, and the short-term breakout direction remains unclear.
