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2026-11-05 13:26:27
[Spot Gold Technical Analysis (Funan County): Focus on Resistance Near 4184] 1. Spot gold has broken through the $4070 resistance level per ounce and may continue its upward trend, entering the $4188-$4281 range. This strong rebound stems from the completion of a five-wave cycle since $4696; retracement analysis shows the first target is $4184, corresponding to the 38.2% level of the $4696-$3870 decline, close to the peak of the first wave. 2. Due to strong upward momentum, the target may not be limited to $4188 and could potentially reach $4281-$4378, corresponding to the 50% and 61.8% retracement levels. 3. On the hourly chart, the target of wave c, which started from $3895, is $4156, i.e., the 261.8% retracement level; pullback support is expected in the $4109-$4118 range.
