4.26 Spot Gold (XAU/USD) Next Week Market Outlook



Gold connects the rebound highs on April 21, 23, and 25 to form a descending resistance line, with prices repeatedly hitting this line and being pushed back, confirming the downward trend.

The 1-hour chart shows a typical descending structure with lower highs and lower lows.

The current trend has not formed reversal patterns such as a W bottom or double bottom, only a single bottom structure without a secondary bottom confirmation, and the price has not broken through the 4750 neckline.

At the same time, no ascending channel has formed; the rebound high of 4730 is below the previous high of 4820, and the pullback low of 4700 is below the rebound start of 4660, indicating no trend reversal conditions.

Next week, the price is expected to continue downward, breaking out of the descending flag pattern and testing lower support levels.

Rebound resistance is mainly concentrated in the 4710-4730 range, with pullback targets sequentially at 4670, 4650, and 4600. #现货黄金
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin