Every read JAFX AI made on the XAU/USD daily chart that day, newest first: trend, structure, the levels it marked and what it said to watch.
21:05 UTC
Downtrend, relief bounce fading · RSI 43 · price 4,003.24
Lower highs / lower lows, basing near 4000.
Gold has been in a sustained multi-month downtrend from the 5238 February high, shedding roughly 1200 points and trading below the D1 EMA(50) since the March breakdown. The soft June CPI print lifted price back above the 4000 psychological pivot in a relief bounce, but the recovery stalled short of the 4110 cap and price has slipped back to 4003. Structure remains a chain of lower highs and lower lows, with the 3960 swing low and 3900 yearly low as the last defended supports.
Support: 3,960.00, 3,900.00
Resistance: 4,110.00
What it said to watch
- Daily close below 3960 confirms a fresh lower low and opens 3900 yearly low
- Reclaim and close above 4110 relief cap needed to challenge the downtrend
- US PPI Wed 12:30 GMT and Warsh testimony could materially shift this read
21:05 UTC
Downtrend, relief bounce · RSI 41 · price 4,003.24
Lower highs/lows, basing near 4000.
Gold has been in a multi-month downtrend since the February peak near 5240, trading below a falling EMU(50) with a chain of lower highs and lower lows into the 3959 mark. This week's soft June CPI print sparked a relief bounce back above the 4000 psychological pivot after Monday's plunge toward the yearly-low zone, but the recovery is stalling under prior supply near 4110. The last eight sessions have compressed into a 3959–4200 base, keeping the broader structure heavy.
Support: 4,000.00, 3,959.13, 3,900.00
Resistance: 4,110.00, 4,246.47
What it said to watch
- US PPI Wed 12:30 GMT and Warsh testimony could materially shift this read
- Daily close above 4110 opens the path back to the 4246 prior high
- Failure to hold 4000 psych and a close below 3959 confirms a fresh lower-low toward the 3900 yearly low