21:01 UTC
Downtrend after parabolic top, consolidating · RSI 41 · price 4,521.97
Lower highs and lower lows since late Feb peak.
Gold remains in a downtrend off the late-February 5598 blow-off top, printing a clean lower-high sequence through April (4889) and early May (4773) with price now compressing in the 4480-4580 band. Both EMA20 and EMA50 cap the tape and the metal carved a two-month low this week as USD demand returned on stalled Iran talks. Daily RSI near 41 is flat against price holding above the 4406 swing low, hinting at fading downside momentum but no reversal signal yet.
Support: 4,480.00, 4,099.08
Resistance: 4,580.00, 4,889.10
What it said to watch
- Daily close below 4406 Mar swing low extends the downtrend toward 4099
- Daily close back above 4580 near pivot neutralises the lower-high pressure
- Reclaim of 4764 Apr lower high needed to challenge the downtrend structure
- Iran-deal headlines remain the dominant macro driver for USD and gold