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2025-11-14 09:43:14
【Technical Analysis of Spot Gold on the 4-Hour Chart】 1. From the 4-hour chart, gold prices fluctuated upwards after reaching low levels, but the upper Bollinger Band is currently flat. Gold prices fell back after two attempts to break higher, the MACD and KDJ indicators are both showing a death cross, and gold prices have also initially broken below the short-term upward trendline support. If it cannot recover quickly, there is a risk of a reversal to the downside. Currently, the middle Bollinger Band support is around 4154, and the overnight low support is around 4145. If this level is broken, the price may fall to support levels around 4024 and 4087 respectively, which are the 38.2% and 50% retracement levels of the 3930-4245 upward move. Strong support is seen around the 61.8% retracement level at 4050, which is also the upper edge of the low-level consolidation range. 2. The 9-day moving average resistance is around 4192, followed by the 4200 level. Given that gold prices are currently finding support near the Bollinger Band's middle line, if gold can recover the 4200 level, it would indicate a continuation of the recent upward trend, potentially leading to another attempt to break through the upper Bollinger Band around 4229, and possibly extending to the upper trendline of the recent upward channel, currently around 4285. 3. Short-term focus should be on a breakout from the 4245-4200 range.
