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2025-11-17 21:27:47
[Spot Gold Technical Analysis] The 4-hour candlestick chart shows that after retracing from the high of 4244.96, gold prices have exhibited a step-down retracement structure. Currently, the price is trading below 4100 and is clearly constrained by resistance at 4130.00. This price level possesses the dual attributes of being both the "first retracement level after the previous high" and the "upper edge of a densely traded area," making it a key resistance level in the short term. The nearest support level to watch is 4032.10; a break below this level would make the previous low of 3928.80 a more significant medium-term trend dividing line. In terms of momentum indicators, the MACD DIFF is -8.30, DEA is 8.24, and the histogram is -33.09 and continues to extend downwards, reflecting that bearish momentum is still being released. The retracement above the zero line has transformed into a spread below the zero line, and typical "exhaustion divergence" has not yet appeared. The Relative Strength Index (RSI) (14) is at 41.87, in the neutral to weak range, and has not yet reached the oversold line, but it has already resonated with the downward price trend. Combining the resonance relationship between price and indicator, the current structure can be defined as a rectangular oscillation between the "upper resistance zone of 4100-4130.00" and the "lower support zone of 4032.10". If it breaks through 4130.00 effectively and holds, there will be a chance to launch a retracement to the previous high-density area of 4160 or even 4244.96; conversely, if it falls below 4032.10, the bears will open a window to explore the 3970 level. Overall, the current stage is still a "sideways consolidation in a downtrend", with the trend line and horizontal level dominating.
