Spot Gold Technical Analysis: After Breaking Key Resistance, Target Points to $4,745
智通财经2026/08/25 05:31Show original
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1. From a technical perspective, spot gold has effectively broken through the resistance level at $4,680 per ounce—this level is the 276.4% Fibonacci projection of the uptrend started from the $3,959 low. Projection analysis shows that gold prices are very likely to further climb to $4,842, while a more realistic mid-term target is around $4,745. 2. If the gold price falls below $4,680, it may trigger a short-term correction to the $4,612 to $4,643 range. Overall, as long as the gold price remains above this support region, upward momentum remains intact. 3. The daily chart shows that the market once broke through the $4,666 resistance level, which is the 76.4% Fibonacci retracement of the downtrend from the $4,896 high to the $3,945 low. If the price holds above this level, there is a very high probability that gold prices will rise further to the $4,760 to $4,889 range.
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