Gold April 22, 2026 Wave Structure Description



· Key price levels: Resistance at 5023; support/observation levels at 4677, 4640.
· Structure division:
· The decline from 5602 to 4100 is considered the first part of the correction.
· The subsequent rally shows an a-b-c three-wave structure, regarded as the second part of the correction (i.e., a correction to the previous decline).
· Current judgment:
· If it falls below 4677, the market enters a retracement.
· In the short term, focus on the 4640 level: if it breaks below, it can be confirmed as a retracement after the rally.
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