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2025-11-03 22:02:52
[Spot Gold Technical Analysis] Looking at the 30-minute candlestick chart, after falling from the high of $4046.13, gold formed a clear horizontal support zone near the $4000 mark. Multiple pullbacks were successfully defended, indicating active buying interest around the $4000 level. The first resistance level is at $4027.87, followed by $4035.98, and then the previous high of $4046.13. These three resistance levels form a stepped distribution, constituting the upper edge of the current range. If the price can effectively hold above $4027.87 and close with a solid bullish candlestick on the 30-minute chart, it may retest the $4035.98-$4046.13 range. Conversely, as long as the price remains below $4020, the range-bound trading pattern will remain unchanged. The RSI (14) is running not far above 50, neither entering overbought territory nor falling back into the weak zone, indicating that the short-term technical state remains one of upward bias. Overall, $4,000 is the first line of defense that the bulls must hold. A break below this level would target the previous low of $3,988.91 and even $3,962.60. If the price can recover and consolidate above $4,030, it could potentially extend towards the high of $4,046 or even higher.
