Gold Price Rebound Lacks Strength, Bearish High-Level View Continues

Gold Digger Old Cat
2026.04.28

In trading, slow is fast, and less is more. Don’t be tempted by short-term fluctuations—only trade with a confirmed, certain trend. That is the most reliable responsibility to your account.

This morning, spot gold has been moving in a narrow range with a slight bearish bias. On the hourly chart, rebound momentum is fading. Indicators show that the bulls’ counterattack is weak. The key overhead resistance is concentrated in the 4700–4710 range. Until there is an effective breakout, the trend remains bearish.

On the news front, expectations for a Fed rate cut continue to cool. The U.S. Dollar Index and U.S. Treasury yields are holding a relatively strong posture, weakening gold’s appeal. Meanwhile, geopolitical risk sentiment has eased temporarily, causing support from safe-haven buying to fade—so gold lacks upward momentum.

In terms of strategy, continue with the bearish outlook. For the short term, the first shorting zone is 4700–4710. Targets are first at 4670–4660, and if the level breaks, you can look to 4650–4640. If the price unexpectedly rebounds into the strong resistance zone of 4720–4730, consider adding to shorts a second time. The stop-loss should be uniformly set above 4740 to control risk.
⚠️ Risk Warning: The above is only a personal trading thought-sharing and does not constitute any investment advice. The market is risky—investments require caution. Please be sure to manage your positions and control risk.