The week's dominant move was the slide from Monday's 4180 high to the 4021 weekly low, driven by oil-fed inflation reviving Fed hike bets. A recovery back toward 4120 stalled under the descending lower-highs and this session's open gapped down, pressing back below the 4100 pivot. Price trades under both EMA20 and EMA50 with RSI in the high 30s.
Support: 4,041.00, 4,021.00
Resistance: 4,100.00, 4,120.00
What it said to watch
US CPI Tue 12:30 UTC and Warsh testimony 14:00 UTC could materially shift this read
Close below 4041 swing low reopens the 4021 weekly-low zone
Reclaim of the 4100 pivot needed to negate the lower-high structure
Gold rolled over from Friday's 4120 high and gapped lower into Sunday's open, trading down to 4072 and slipping back under the 4100 pivot. The week stayed corrective — the bounce off the 4021 weekly low stalled below a run of descending lower highs and price now sits under both EMAs with RSI(14) in the low 40s. Rallies have been capped below the March-high trendline, consistent with the oil-driven rates headwind on bullion.
Support: 4,072.00, 4,041.00, 4,021.00
Resistance: 4,100.00, 4,120.00
What it said to watch
Sustained trade below the 4100 pivot keeps the corrective read intact
Loss of 4041 swing low opens the 4021 weekly-low zone
Reclaim of 4120 prior high negates the lower-high sequence
US CPI Tue 12:30 UTC could materially shift this read
Gold clawed back above the $4,100 pivot into Friday's close, recovering roughly 62% of the week's drop from 4180 to the 4021 weekly low. Price holds above EMA(20) with RSI(14) mid-range near 56, printing higher lows since the weekly low, but the 4136 week high has capped the rebound. The advance stays corrective within the broader weekly decline described in the digest.
Support: 4,100.00, 4,072.00
Resistance: 4,136.00, 4,155.00
What it said to watch
H1 close above 4136 week high opens the path toward the 4155 weekly open
Failure to hold the 4100 pivot re-exposes 4072 swing low and 4021 weekly low
US CPI Tue 12:30 UTC and Warsh testimony 14:00 UTC could materially shift this read
Gold slid from 4180 to a weekly low near 4021 mid-week as the US-Iran flare-up spiked oil and revived Fed hike bets, then bounced back above the 4100 pivot as the dollar softened on de-escalation. Price now sits at the 61.8% retrace of that down leg, cycling in a 4090-4138 range with RSI mid-50s and holding above EMA20. Lower highs from 4180 keep the recovery corrective rather than a fresh trend.
Support: 4,100.00, 4,072.00, 4,021.00
Resistance: 4,138.00, 4,180.00
What it said to watch
US CPI Tue 12:30 UTC + Warsh 14:00 UTC could materially shift this read
H1 close above 4138 opens the path back toward 4180 week high
Failure to hold 4100 pivot exposes 4072 swing low and 4021 weekly low
Gold slid from Monday's 4172 high to a 4021 weekly low as the US-Iran flare-up revived Fed hike bets, then recovered back above the 4100 pivot into a corrective range. Since Thursday's session price has carved higher lows off 4021 with RSI(14) cycling around the midline, but rallies keep stalling below 4136. The 4100 pivot is holding as near-term support with price back above EMA(20) and EMA(50).
Support: 4,100.00
Resistance: 4,136.12, 4,172.33
What it said to watch
US CPI Tue 12:30 UTC and Warsh testimony 14:00 UTC could materially shift this read
Loss of the 4100 pivot reopens the 4085 swing low and 4021 weekly low
H1 close above 4136 targets the 4172 prior high and the March-high trendline
Gold sold off from the 4180 week high early in the week to a low near 4021 as the US-Iran flare-up revived Fed tightening fears, then bounced back above 4100 as oil eased. Price now sits at 4120 just above EMA20, capped repeatedly at 4138 with the 4021 weekly low holding twice below — a corrective range read. Move sits around the 61.8% retrace of the 4180-4021 decline.
Support: 4,085.00, 4,021.00
Resistance: 4,138.00, 4,155.00, 4,180.00
What it said to watch
US CPI Tue 12:30 UTC and Warsh testimony 14:00 UTC can materially shift this read
H1 close above 4138 opens the path back toward the 4155 weekly open
Failure to hold 4085 exposes the 4021 weekly low again