Gold surges higher and then pulls back! The bearish trend is clear, and the downward window has opened

Gold Digger Old Cat
April 10, 2026

The essence of trading is a game of probabilities; what we need to do is act at high-probability points, use strict risk control to embrace every opportunity, and leave the rest to the market.

The current spot gold price is 4756.69, a slight decline of 0.17% compared to the previous trading day. Looking back at yesterday’s market, the gold price surged to a high of 4857.46 before continuing to fall. The opening session saw a slight gap up to around 4780 before continuing downward, oscillating and weakening all the way, with clear support at the 4750 level. In the short term, it entered a consolidation phase, but the large-cycle bearish structure is clear; breaking support is only a matter of time. The next target below remains at the 4700 round number.

The 1-hour Bollinger Bands show that the price is trading near the middle band at 4753.76, with the upper band at 4805.72 and the lower band at 4701.79. The bands are narrowing, indicating a high probability of short-term narrow-range oscillation. The bullish and bearish forces are temporarily balanced, but the bears still dominate. The Williams %R indicator (14) currently reads -55.72, in the neutral zone, turning downward, confirming that there is still room for short-term downside.

The overall direction remains a high-short strategy; in the short term, focus on buying low and selling high within the 4700-4800 range. Resistance above is at 4780-4800, support below is at 4730-4700. In terms of operations, short positions can be taken on rebounds to 4780-4800 with targets at 4730-4700 and a stop loss above 4810; light long positions on dips to 4700-4720 with targets at 4760-4780 and a stop loss below 4690. Overall, the main approach is high short, short-term trading with long positions, strict position control, and quick entries and exits.

Disclaimer: The above analysis only reflects personal opinions and does not constitute any investment advice. The market carries risks; investment should be cautious. Investors should make independent decisions based on their own circumstances and bear the trading risks themselves.