Gold market analysis

"Gold Price Holds Steady at $5,000, Continues to Test Higher Levels" 4/2/2026 10:26 Finalized 

Recently, the gold price has been fluctuating significantly, with gains or losses of tens of dollars within minutes. Investors who are well-planned and not overly greedy should be able to profit in 90% of cases. The key is not to operate on a large time frame. The daily chart should only be used as a directional reference and is not an ideal indicator for entering or exiting the market. I mentioned before, and it is the strategy I currently use most often, that the time frame should be 1 and 5 minutes, and 20 and 50 SMA should be used as support or resistance for taking action. Even simpler, just using 1 minute and 20 SMA is enough to win. At most, add 9 RSI as a warning signal. Once it reaches 85 or above, start to be cautious in operation. Given that the daily fluctuation of the gold price is often over 100 to 200 dollars, there is no need to refer to lagging technical indicators at all! 

Spot gold prices continued to decline in the New York midday session yesterday, hitting a low of $4,881.13 towards the end. Subsequently, a rebound wave began, and today, in the early Asian session, it broke through the $5,000 mark, briefly rising above $5,050 before pulling back. However, after falling to $5,010.84, it started to climb again. $5,010 is the price level after the 90-degree angle of Gann's 4,960, but it is neither a significant nor a secondary resistance level. Therefore, the key support levels remain at the $5,000 mark and $4,960. If gold prices can hold above $5,000, the next target for a challenge will be the 135-degree angle at $5,110. 

From the hourly chart, the rebound of gold prices from the low point on Monday has exceeded 50% of the recent maximum decline. Currently, it is moving towards a 61.8% rebound. If it reaches this level, the gold price will rise to $5,139.70, which will break through the $5,110 level at a 135-degree angle. Since this level is not a significant resistance (or support), after breaking through, the gold price is likely to rise to $5,260 at a 180-degree angle before encountering significant resistance. 

The above content is for reference only and does not constitute investment advice.