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April 7, 2026, Spot Gold Evening Analysis
In the morning Asian session, gold initially declined then rebounded, touching a low of 4616 before stabilizing and bouncing back. It surged toward 4694 but faced resistance and pulled back, with a clear range-bound pattern.
Amid expectations of rate cuts and safe-haven sentiment, bullish and bearish forces continue to tug, with strong support at 4616. The short-term first support level is at 4640.
Currently, both the 1-hour and 4-hour charts are operating within the upper band of the channel, showing a trend toward breaking through the upper resistance.
Trading strategy: Rely on the 4640 support to stabilize and go long, with targets at 4690 and 4720.
The above is only personal advice for reference and does not constitute investment guidance. Please follow Cheng Jingsheng's layout for specific actions!!$XAU #XAU