Higher highs / higher lows, ranging below the high.
Gold is in a clean H4 uptrend, posting its strongest run since January after the -23K NFP shock crushed Fed hike bets and dragged yields/USD lower. Price surged to 4371.88 then rolled into a tight 4313-4371 consolidation, holding well above rising EMA20 and EMA50. The 100-day SMA cluster near 4390 caps the upside while the rally digests into Tuesday's US CPI.
Support: 4,313.47, 4,247.19, 4,160.00
Resistance: 4,371.88, 4,390.00
What it said to watch
H4 close above 4390 clears the 100-day sma and opens the 4600 area
Failure to hold 4313 range low exposes 4247, then 4160
US CPI Tue 12:30 UTC — a hot print could trigger a long-liquidation unwind
Gold extended a ~7% weekly surge into the 4371 swing high after Friday's -23K NFP shock crushed Fed hike bets, and is now consolidating in the 4313-4371 range just below the 100-day SMA near 4390. Higher-low structure remains intact with price holding above both EMAs, but the advance has stalled ahead of Tuesday's CPI. ATR is elevated, reflecting the still-expanded post-NFP regime.
Support: 4,313.47, 4,160.00, 4,077.00
Resistance: 4,390.00
What it said to watch
H4 close above 4390 clears the 100-day sma and opens the 4600 area
Failure to hold 4313 swing low exposes 4160, then 4077 support
US CPI Tue 12:30 UTC is the primary risk to this consolidation read
Higher highs/higher lows, consolidating near highs.
Gold ripped roughly 7% off the early-month 4020 base to a 7-week high at 4371 after the shock -23K NFP crushed near-term Fed-hike bets. Price is now consolidating in the 4330s-4350s just below that high with RSI cooling from overbought, momentum easing into Tuesday's CPI. Structure remains a clean sequence of higher highs and higher lows, with EMA20 and EMA50 stacked below price.
Support: 4,300.00, 4,247.00, 4,160.00
Resistance: 4,390.00
What it said to watch
US CPI Tue Aug 12 12:30 UTC could materially shift this read
Close above the 4371 7-wk high opens the 4390 100d sma region
Loss of the 4300 pivot exposes 4247 swing low then 4160
Gold ripped ~7% off the early-August base after the shock -23K NFP, printing a 7-week high at 4371.88 before easing into a tight 4327-4350 consolidation. Structure remains a clean sequence of higher highs and higher lows, price well above rising EMA20 and EMA50, though the melt-up has expanded ATR and momentum is now flattening below the high. The 4300 pivot and 4247 swing low mark the multi-day support shelf underneath.
Support: 4,300.00, 4,247.00
Resistance: 4,371.88, 4,393.00
What it said to watch
US CPI Tue Aug 12 12:30 UTC could materially shift this read
H4 close above 4371.88 opens the path toward the 4393 100-day sma