21:04 UTC
Downtrend, oversold bounce underway · RSI 49 · price 4,218.67
Lower highs / lower lows, basing after slide.
Downtrend dominant: gold shed roughly $550 from the $4,575 region to a six-month low at $4,023 as a hot PPI print and higher-for-longer Fed bets lifted real yields and triggered technical selling through the 200-DMA. Price is now basing in a $4,100–$4,246 band, a corrective bounce that has reclaimed EMA20 but sits well below EMA50, keeping the broader lower-high/lower-low structure intact. RSI has lifted off oversold toward neutral as the slide pauses.
Support: 4,100.00, 4,023.00
Resistance: 4,246.00
What it said to watch
- H4 close above 4246 bounce high needed to extend the recovery and break consolidation
- Failure to hold 4100 psych reopens the 4023 six-month low
- FOMC dot plot and Retail Sales Jun 17 are the dominant catalysts and could materially shift this read