Evening Gold Market Analysis: Rebounds mean Short, with the target directly at 4650!

Gold Digger Old Cat
2026-04-13

The most precious thing in trading is to hold on to your original intention in a range-bound market, and to stay steadfast in your direction during a trend—don’t let short-term fluctuations lead you by the nose; that’s the first step toward stable profits.

Tonight’s gold is still following the weak pattern of rallying during the day and then falling back. After the morning rally surged into resistance and topped out, it kept dropping all the way. The rebound strength at the current price is very limited, and the bearish-dominated rhythm has not been broken.

From a technical perspective, the 1-hour Bollinger Bands are opening downward, and the price is trading below the midline. The moving averages have formed a clear bearish suppression, and short-term rebounds are unlikely to break through the key pressure. The evening’s key capped (suppression) zone is still near 4728-4735. As long as the price cannot effectively hold above this range, the high-short approach can continue to be held. For support below, first look at 4680-4690; if this level is lost, the price will most likely test the intraday low again, and then extend further toward around 4650.

For tonight’s trading, the approach will still mainly be high-short. If the rebound reaches the 4728-4735 range, you can enter short orders in batches. Place your defense above the intraday high. Targets first to watch are the 4690-4680 range; after a breakdown, continue to look toward 4650.

This content is only a personal sharing of trading ideas and does not constitute any investment advice. There are risks in the market, and you should exercise caution when investing.