Spot Gold Technical Analysis: Focus on Breakout in the 4030-4130 Range

Bitget

News

智通财经2026/11/10 05:35

Show original

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!

A welcome pack worth 6200 USDT for new users! Sign up now!

From a technical perspective, spot gold once again failed to break through resistance near $4,145 per ounce, with the trend leaning towards a pullback to around $4,030. This failed attempt could indicate the formation of a double top pattern, or it might simply be part of a bullish consolidation; in either case, the gold price may pull back to the $4,030 level.
If the gold price further breaks below $4,095, the above-mentioned pullback target can be confirmed. The immediate resistance above is near $4,130; if surpassed, it could drive the price towards the $4,171 to $4,194 range.
According to the daily wave structure, the current rebound is driven by the fourth wave in a five-wave cycle starting from $4,696, and is expected to be fully reversed by the subsequent fifth wave decline. The challenge lies in pinpointing the peak of the fourth wave, with the 38.2% retracement at $4,184 possibly being one of the peaks.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.

Trade now！

Spot Gold Technical Analysis: Focus on Breakout in the 4030-4130 Range

You may also like

Crypto prices