Gold & SP 500 Futures Analysis

Gold & SP 500 Futures Analysis

(GCM26) 

GOLD

All of the Above/Below targets remain the same as well as the swing point for the week once again.

GCM26

From the 4/19/26 Update,

Monday's lower opening held above 38.2% back to the 3/23/26 low at 4607.00 keeping the trend extremely positive and it closed above the 4722.00 swing point for the week and then went on to make a new high. It closed right at 4871.00 major Gann square and this will be the key level for the week.

Use 4871.00 as the swing point for the week. 

 Below it, the short term target is 38.2% back to the 3/23/26 low at 4619.00, holding this level keeps the short term trend extremely positive and a new high can follow (ONE44 38.2% rule). The longer term....

 The setback from the 4871.00 major Gann square and swing point for the week hit the short term target of 38.2% back to the 3/23/26 low at 4619.00 and this will be the key level for the week. It did have one solid close below 4619.00, but the next day it was right back above it. As long as this level holds the short term trend stays positive and the long term trend remains positive above 4135.60 (38.2%).

Use 4619.00 as the swing point for the week.

Above it, the short term target is the 4871.00 major Gann square. The longer term target area is the 5062.50 major Gann square and 61.8% back to the ATH at 5085.00.The long term target after holding 38.2% back to the 2022 low is a new high per the ONE44 38.2% rule.

Below it, turns the short term trend negative and the short term target area is the 4310.00 major Gann square and 78.6% back to the 3/23/26 low at 4294.00. A failure to hold 38.2% back to the 2022 low at 4135.00 will give us a long term target of 61.8% of the same move at 3210.00. Before then there are major Gann squares to look for support and then use as the swing point when closed below, they are marked on the chart.

We have done over 45 videos on how to use the Fibonacci retracements with the ONE44 rules and guidelines. Here is the latest.

SP 500 Futures

(ESM26) 

From last week,

There was no turn lower from the 7229.00 major Gann square cluster and Friday it closed above the 7388.75 major Gann square and this will be the key level for the week. The long term swing point will be the 7229.00 major Gann square cluster.

Use 7388.75 as the swing point for the week.

Above it, there are only major Gann squares to look for resistance and then use as the swing point when it is closed above, the next two are 7553.25 and ….

All of this weeks closes were above the 7388.75 major Gann square and swing point for the week. The high for the week fell just short of the 7553.25 major Gann square and this will be the key level for the week.

Use 7753.25 as the swing point for the week.

Above it, there are only major Gann squares to look for resistance and then use as the swing point when it is closed above, the next two are 7736.75 and 7890.75.  As long as it remains above the 7229.00 major Gann square cluster the long term target is the next major Gann square cluster at 8237.50.

Below it, we will use the 3/31/26 low to retrace back to, when and if it takes out 38.2% of that move we will bring in longer term retracements. The short term target area is the 7053.25 major Gann square and 38.2% back to the 3/31/26 low at 7081.00. The long term target is 23.6% back to the 2025 low at 6709.25, this is also a major Gann square. Any setback that holds 23.6% back to the 3/31/26 low at 7262.00 keeps the trend extremely positive and a new high can quickly follow.

ONE44 Analytics where the analysis is concise and to the point

Our goal is to not only give you actionable information, but to help you understand why we think this is happening based on pure price analysis with Fibonacci retracements, that we believe are the underlying structure of all markets and Gann squares.

If you like this type of analysis and trade the Grain/Livestock futures you can become a Premium Member.

You can also follow us on YouTube for more examples of how to use the Fibonacci retracements with the ONE44 rules and guidelines.

FULL RISK DISCLOSURE: Futures trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Commission Rule 4.41(b)(1)(I) hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. Past performance is not necessarily indicative of future results.