XAU Gold Market Analysis 2026.04.20 Gold has been moving in a rebound structure since 4100, and there’s no sign yet of it developing into a new upward trend. If the rebound from 4100 is in response to the decline in the red segment shown in the chart, then pay attention to the resistance around 5150 above. If it’s only a rebound targeting the black segment, it has already met the basic requirements. However, as long as it doesn’t break below 4644, there’s still upward momentum. If it breaks below, be cautious of the rebound ending. Before breaking below 4644, the ongoing upward movement (blue box) is at the same level as the 4100-4860 range (blue segment).