21:01 UTC
Uptrend stalled, deep correction underway · RSI 43 · price 4,538.75
Lower highs from 5598 peak, ranging 4450-4800.
Gold made a parabolic blow-off to 5598 in late January before collapsing roughly 1500 points into the 4099 February low. Since then price has built a choppy multi-month range between 4450 and 4800, with the most recent attempt at 4595 rejected and price sliding back into the lower half. Monday's slide came as the fragile US-Iran ceasefire narrative trimmed haven demand, leaving structure heavy below both EMAs.
Support: 4,450.00, 4,099.08
Resistance: 4,595.27, 4,793.03, 5,598.18
What it said to watch
- Daily close above 4595 prior high reopens the 4793 swing high
- Loss of 4450 swing low exposes the 4366 april low and 4099 feb low
- Middle East ceasefire developments remain the dominant macro driver