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2026-09-18 12:14:09
[Spot Gold Technical Analysis: A Breakout Above $4373 Could Lead to a Move Towards the $4400-$4474 Range] 1. From a technical perspective, spot gold may break through the resistance level of $4373 per ounce and further rise into the $4400-$4474 range. 2. Gold prices have rallied strongly from Wednesday's low of $4235, completely recovering the losses from the high of $4366. This upward and reversal suggests that the C wave that started at $4510 may have been completed. 3. From a channel perspective, gold prices are expected to further test $4445, which corresponds to the 76.4% Fibonacci retracement level of the decline from $4510 to $4235. 4. Short-term support is at $4335; a break below this level could trigger a pullback to $4300. On the daily chart, the market found strong support near $4235 and rebounded. 5. $4231 was identified as the 61.8% Fibonacci retracement level of the rally from $3943 to $4696, a key level for determining whether the uptrend since $3943 can be resumed. Market stabilization increases the likelihood of a continuation of the uptrend. If gold prices can rise above $4510, the extension of this trend will be confirmed.
