- April 16, 2026
- Posted by: EWGFX
- Category: Technical analysis
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Gold is currently trading within a well-defined horizontal range. After failing to break through the major resistance level near 4,840, price action is showing signs of exhaustion.
Key Setup: I am looking for price to gravitate toward the marked Demand/Support zone (approx. 4,788).
Strategy: Watch for a liquidity grab or a bullish reversal pattern at the support line before considering long positions.