Gold market analysis

"Gold Prices Weaken Gradually, Awaiting a Counterattack Opportunity" 21/4/2026 10:38 Completed 

The situation between the United States and Iran is approaching a critical point. The ceasefire agreement expired on Wednesday. Before that, if the two sides failed to reach a consensus on the nuclear issue, according to Trump's latest statement, it would be "almost impossible" for him to extend the ceasefire and he would instead resume military strikes. However, US Vice President Pence has arrived in Islamabad, the capital of Pakistan, and the two sides are about to start a new round of negotiations. On the Iranian side, it is reported that the Islamic Revolutionary Guard Corps has asked Iranian negotiators to maintain a tough stance. Some senior members of the Iranian parliament also said that the country would not do anything at all costs for the negotiations. 

After several rounds of "fire drill" exercises before, investors should be mentally prepared that even if the two sides fail to reach an agreement, it is not expected to cause significant fluctuations in the financial market. The spot gold price rebounded to a high of $4,833.09 in the Asian market this morning, completely filling the gap left by yesterday's decline. Subsequently, the gold price dropped again and broke through the 50SMA (about $4,809) and 20SMA (about $4,808) that had been moving horizontally for a long time on the hourly chart. The $4,810 level on the Gann 45-degree angle was lost again. Does this indicate that the gold price will further test the lower level of $4,760, or even move towards the stronger support level of $4,660? 

From the hourly chart, the gold price has tested through the TD ascending track of the hourly chart. However, based on the gap between the large bearish candle of the previous hour and this line, even if the ascending track is tested through at 10 a.m. in the one-hour chart, it is mostly a false break. But if the break is confirmed, the current measured decline target is approximately $4,770. Conversely, if it breaks through the TD descending track, the measured rise target is approximately $4,960, which is exactly the strong resistance at $4,960 where the Gann 90-degree angle is located! From this, it can be inferred that the gold price is likely to decline gradually, waiting for the right moment to make a major counterattack. Whether to sell first and then buy, or wait for the right moment to gain greater profits, it all depends on the investor's values! 

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