Spot gold technical analysis: 4444 dollars resistance level becomes short-term key

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智通财经2026/09/03 04:16

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From a technical perspective, spot gold may test the resistance level at $4,444 per ounce in the short term. If this level is effectively broken, the gold price is expected to further open up upward space, targeting the $4,464 to $4,495 range.
The gold price has already broken above the previous short-term resistance at $4,413, which was the 161.8% Fibonacci projection of the decline from the $4,630 high. The next key resistance above is currently at $4,444.
The support level below is at $4,393. If the gold price falls below this level, it may trigger a further pullback, with targets in the $4,342 to $4,361 range. This round of rebound may constitute the second wave of the zigzag correction structure starting from the $4,649 high.
From the structural pattern, the current rebound is expected to complete within the $4,441 to $4,539 range, after which the downward trend is likely to resume. The short-term support has moved up to $4,393. Once this level is lost, gold may accelerate its decline toward around $4,361.
On the daily chart, although gold prices rose further on Thursday, the candlestick pattern between September 1 and 2 did not form a bullish reversal signal. Overall, the short-term downtrend line since the $4,696 high remains intact.

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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Spot gold technical analysis: 4444 dollars resistance level becomes short-term key

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