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2026-04-07 11:30:05
[Technical Analysis: Gold Rebound May Have Reversed, Expected to Fall Back to $4520-$4573 Range] 1. Spot gold is expected to fall back to the $4520-$4577 per ounce range, as the uptrend since $4098 may have reversed. A break below an uptrend line confirmed the reversal signal, and the current rebound towards that trendline is considered a pullback. 2. Whether it's a pullback or the current decline, it aligns with a series of projected levels in the uptrend that began at $4351. Resistance is at $4692; a break above this level could lead to further gains in the $4733-$4767 range. 3. On the daily chart, wave C, which began at $5418, broke sharply below its 100% projection level of $4235 on March 23. Despite the rebound from $4098, wave C could still extend to the $3504-$3783 range. As long as gold prices remain below the $4,687 resistance level, the bearish outlook remains valid; a break above this level would suggest a potential rebound to $4,826.
