The gold target remains at 5000

2026-04-06 10:53:03

Last week I wrote a top-escape plan for paper gold. The drop on Thursday was indeed very fierce, but for now, this plan remains unchanged.

1: Historically, April is a strong month for gold.

2: On the daily chart, the current rebound shows no sign that it has ended. It’s just currently being capped by the MA60, and it may need to consolidate for longer.

3: Looking at the hourly chart, the first wave of decline is 251 USD, which is the 0.5 retracement of the previous pullback. The second wave of decline is 247 USD, which is also the 0.5 retracement of the previous pullback. In terms of price action, as long as Thursday’s low isn’t broken, it can continue to look toward the target levels.

On a smaller timeframe, the rise also doesn’t look as strong as before—it’s more of a choppy, range-like advance. A pullback on the smaller timeframe is about 100 USD, so you can’t chase the price. Even if you do buy on a breakout, the usual target typically isn’t reached before it falls back again.

A spiral, range-like advance might be the rhythm for April. There are opportunities to go long, but also opportunities to go short—because pullbacks also have room. So everyone, pay attention to the timing and rhythm.

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