Spot gold technical analysis: Focus on resistance in the $4185 to $4191 range

1. Technical analysis shows that spot gold may move higher after breaking through the $4,185 to $4,191 per ounce range, as the price has stabilized near the $4,143 support. 2. The C wave initiated from $4,201 was originally expected to reach the 100% projection at $4,134, but the price stopped falling near the 86.4% level, indicating this wave may have completed. The descending trendline currently points to the $4,185 target; if it falls below $4,150, it may further test the $4,134 support. 3. The daily chart shows the market remains neutral within the narrow range of $4,122 to $4,231. A break above $4,231 could not only open up the $4,322 to $4,411 space but also signal the continuation of the upward trend starting from $3,943. 4. If the price falls below $4,122, it may turn downward and test the $3,943 to $4,046 range. However, hourly chart signals show the price movement currently leans slightly upward.