19:04 UTC
Corrective pullback within secular uptrend · RSI 39 · price 4,071.51
Lower highs since Q1 2026 peak.
Gold ran a powerful multi-quarter uptrend from 2615 in Q1 2025, topping at the 5598 all-time high in Q1 2026; since then it has rolled into a correction and now trades near the 50% retracement of that advance around 4100. Price sits below both W1 EMA(20) and EMA(50), and the structure prints successive lower highs off the top — a distributive/reversion regime. Weekly RSI is mid-30s, softening but not yet at the sub-30 extreme.
Support: 3,942.00, 3,755.00
Resistance: 4,200.00, 5,598.00
What it said to watch
- Weekly close below 3942 ytd low confirms lower-low, opening the 3755 61.8% fib
- Reclaim of the 4200 barrier is needed to challenge the lower-high sequence
- FOMC minutes Wed and ISM Services Mon are the key drivers for the yield/USD path steering gold