Technical Analysis: Gold bulls challenge the 4-hour 200-period moving average, with $4,760 as the key support level

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汇通财经2026/04/15 07:11

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Spot gold maintains a constructive bullish bias and is attempting to break through the key resistance level of the 200-period Simple Moving Average (SMA) on the 4-hour chart to extend its upward momentum.
The RSI stands at 60 and is gradually approaching the overbought zone; the MACD continues to rise in positive territory, showing that bullish pressure remains. However, if the price continues to surge rapidly, signs of weakening momentum may appear.
Initial resistance is at the 61.8% Fibonacci retracement at 4,915 yuan. If this level is effectively broken, the next upside target points to the 78.6% retracement at $5,134.37, subsequently challenging the cycle high at $5,419.
On the downside, the 50% Fibonacci retracement at $47,609 forms key support. If this level is lost, it will expose the 38.2% retracement at $4,604 and the 23.6% retracement at $4,410, where buyers are expected to re-enter the market.

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.

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