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
Multi-month downtrend, basing · RSI 49 · price 4,077.28
Lower highs into a double-bottom base near 3960.
Gold has been in a broad downtrend since the early-spring highs above 5000, grinding through a series of lower highs to base near 3960. Price sits back above EMA20 but well below a falling EMA50, and the last two sessions have recovered above 4000 on the US-Iran safe-haven bid, tagging the pattern's best week in three months. Twin lows around 3960-3970 mark a double-bottom base, with the 4140-4200 supply band capping the recovery.
Support: 4,000.00, 3,965.00
Resistance: 4,175.00, 4,200.00
What it said to watch
- Daily close above 4175 challenges the downtrend line and opens the 4200 supply band
- Failure to hold 4000, then 3965, confirms a fresh lower low and reactivates the downtrend
- S&P Global PMIs Fri 13:45 GMT could materially shift the USD/gold read
21:05 UTC
Downtrend, basing at lows · RSI 46 · price 4,077.28
Multi-month decline, now consolidating above 4000.
Multi-month downtrend from the $5,000 area; gold shed roughly 20% into the $3,960 low three weeks ago. Price has since based between $4,000 and $4,180, twice defending the $3,965 swing low on a US-Iran safe-haven bid. Still trading below a falling EMA(50), the pattern reads as a descending-triangle base, with buyers stepping in around the 4000 psych level over the last two sessions.
Support: 4,000.00, 3,965.00
Resistance: 4,180.00, 4,200.00
What it said to watch
- Daily close above the 4180-4200 resist band needed to break the descending resistance
- Loss of 3965 swing low confirms a fresh lower low and resumes the downtrend
- S&P Global PMIs Fri 13:45 GMT could shift the read via Fed-hike repricing