21:05 UTC
Downtrend, bounce fading · RSI 44 · price 4,099.36
Lower highs, lower lows since Feb.
Gold has been in a defined downtrend since the Feb high near 5206, printing lower highs and lower lows and trading well below EMA(50) on D1. Price rebounded off the 3941 floor in late June and pushed toward 4200 but stalled and reversed, now heavy near 4099 with buyers defending the 4000 pivot. FOMC minutes today are the immediate swing factor after the soft NFP miss cooled Fed-hike bets.
Support: 4,000.00, 3,941.00
Resistance: 4,200.00
What it said to watch
- Daily close below 4000 pivot opens the path back toward the 3941 recent floor
- A weekly close above the 4200 ceiling would break the sequence of lower highs
- FOMC minutes today could materially shift this read via USD and yields