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2026-07-13 13:15:55
[Technical Analysis: Spot Gold Faces Key Resistance, May Retest $4022 Support in the Short Term] 1. Spot gold may retest the July 8 low of $4022/oz, as the rebound from that low has been capped near the key resistance level of $4133. This resistance level is crucial in determining whether the downtrend from the $4202 high continues or whether the rebound from $4022 can be restarted. 2. The current gold price has retreated after being capped at $4133 (the 61.8% Fibonacci retracement of the $4202-$4022 decline), confirming short-term downward pressure. Immediate resistance is at $4090; a break above this level could lead to further gains towards the $4112 (50% retracement) to $4133 range, otherwise, a continued decline is possible. 3. The daily chart shows gold is preparing to retest the $4015 support level. A break below this level could open up further downside potential, targeting the $3746-$3950 range.
