Gold market analysis

"Gold Price Faces Obvious Resistance at $5,200" 27/2/2026 10:49 Completed 

Gold prices have maintained a volatile pattern, with the resistance at $5,200 becoming increasingly prominent. Yesterday, the spot gold price rose to $5,205.43 in the early afternoon session in Tokyo, but was clearly pressured by the large bearish candlestick seen in the late New York session on Wednesday. It then continued to decline, and near the end of the New York session yesterday, it even plunged sharply to $5,130.98. However, on the hourly chart, it closed with a long-tailed bullish candlestick that broke through the previous high, indicating that in the short term, the gold price is more likely to fluctuate within the range of $5,130.98 to $5,206.25. However, if it breaks through this range, it is expected that the gold price will enter a one-sided trend market. 

As the gold price is in a sideways movement on the hourly chart, the SMA on the hourly chart has lost its effectiveness. However, the SMA on the 5-minute or 1-minute chart can still provide entry references. I believe that the sudden shift of the gold price to a sideways market is mainly due to the lack of news for speculation. The sudden drop in the gold price yesterday may also be related to the remarks of US Vice President Vance. He stated that a military strike against Iran is unlikely to lead to a protracted war. In other words, the gold price is unlikely to continue to rise due to geopolitical risk factors. 

Spot gold prices once again approached the $5,200 mark in the early Asian session today, reaching a high of $5,199.79, but were once again held back and fell, confirming that the $5,200 resistance level is not easily broken. As the gold price develops, the double top pattern on the hourly chart has turned sideways, but $5,139.22 remains a key support level. Measured by the TD line, if the gold price breaks above the downtrend line on the hourly chart, the upward target is approximately $5,270. Since the previous hour was a bullish candle, the current sudden drop is considered invalid. Conversely, if the gold price breaks below the downtrend line, the measured target is approximately $5,035. 

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