4.20 Gold Market Analysis

This week, gold overall showed a pattern of opening lower and stabilizing, then oscillating upward, with multiple rebounds off support levels during the week, quickly recovering each time, with bullish momentum continuing to dominate. On Friday night, it pushed higher again, strongly breaking through the previous consolidation range, reaching a high of around 4891. Subsequently, due to profit-taking selling pressure, it faced short-term resistance and slightly retreated, ultimately closing near $4,830, with a weekly positive candle, indicating a clear bullish trend.

Key support is at 4780, which has been a critical support zone for multiple rebounds and stabilizations during the week, and also a short-term dividing line between bulls and bears. If this level can be effectively maintained, the bullish structure will continue.

After stabilizing on the 4780 support, bulls will re-energize, aiming to break through the 4900 threshold; if it holds above 4900, it may challenge the 4950–5000 integer resistance levels in the future.

In terms of trading: gradually build long positions in the 4780–4805 range, with targets at 4850, 4870, and 4940. If the market continues to be strong, hold on for further gains toward the 5000 level.

This week, the gold bullish trend is clear, with oscillating upward movement. After spiking to 4891 early Friday morning, it slightly retreated, overall showing strength. 4780 is a short-term key support, and 4900 is a short-term strong resistance. The strategy is mainly to buy on dips, relying on support levels to establish long positions, with targets at 4900–5000.