Gold was last quoted at $4,343.25 on a 5-hour chart, according to a technical note published on 14 September 2026. The price action was described as a bearish marubozu-like close, with key moving averages, including the SMA(20), SMA(50) and SMA(200), in focus. MACD stood at -30.68 against a signal line at -25.64, reinforcing the bearish momentum described in the analysis.
The note identified $4,313 as critical support and $4,364 as the threshold below which bears would be in control. A no-trade zone was marked between $4,313 and $4,380. The 61.8% Fibonacci retracement level was at $4,260.60, with additional downside targets at $4,200 and $4,100. Upside references included $4,400, $4,450 and $4,550.
For trend-following bears, the analysis outlined an aggressive short entry at $4,347 with a stop at $4,450 and targets at $4,260, $4,200 and $4,100, corresponding to risk/reward ratios of 1.71, 2.57 and 4.00. A more conservative bearish entry was set at $4,380 with the same stop and targets.
For tactical buyers, the bull scenario placed an aggressive long entry at $4,260 with a stop at $4,190 and targets at $4,400, $4,450 and $4,550, with risk/reward ratios of 2.00, 2.71 and 4.14. A conservative bullish entry was at $4,400 with a stop at $4,190 and targets at $4,450 and $4,550, with risk/reward ratios of 0.71 and 1.16.
The analysis said a head-and-shoulders top formation was 100% complete, adding to the bearish technical picture.
