21:05 UTC
Downtrend, corrective bounce stalling · RSI 44 · price 4,120.08
Lower highs from March peak, basing near 4000.
Multi-month downtrend from the early-March $5,238 peak has price roughly 20% lower and holding well below a falling EMA(50). A double bottom near $3,945-3,960 in late June sparked a corrective bounce that stalled at the $4,195 swing high; the last two weeks have chopped in a $4,000-4,195 band with price pinned around the $4,100 pivot as oil-driven Fed-hike bets cap bullion. Bias stays corrective into Tuesday's US CPI.
Support: 4,000.00, 3,945.00
Resistance: 4,195.00
What it said to watch
- Daily close below 4000 weekly low confirms a lower low toward the 3945 double btm
- Reclaim of 4195 swing high needed to challenge the March-high trendline resistance
- US CPI Tue 12:30 UTC + Warsh testimony could materially shift this read