Reuters technical view on gold: key levels at $4,121 and $4,169
Reuters analyst Wang Tao outlines technical levels for spot gold, with support near $4,121, resistance at $4,169 and a daily range of $4,067 to $4,195.
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what happened
According to Reuters analyst Wang Tao, spot gold has stabilized near support at $4,121 an ounce and may bounce into a range of $4,150 to $4,169. That support matches the 61.8% retracement of the uptrend from $4,073 to $4,198. A break below it could open the way toward $4,073. The previous session's drop hints at a wedge, which could become a bearish continuation pattern if $4,121 fails to hold.
A move above $4,169 would point to an extension of the uptrend toward $4,198. On the daily chart, trend signals have turned neutral as the price consolidates between $4,067 and $4,195. A close above $4,195 could mark a reversal of the downtrend, while a drop below $4,067 would confirm its continuation toward $3,937.
why it matters
Gold traders are watching the $4,067 to $4,195 band, since a break in either direction would shift the technical picture. These are one analyst's scenarios rather than a price forecast. The analysis appears on Reuters' Workspace platform, which states that it is not investment advice.
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- Spot gold may bounce into $4,150-$4,169 range — Reuters, 20 October 2026 at 02:36 UTC
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