09:20 UTC
Downtrend stabilising, recovery underway · RSI 55 · price 4,715.23
Lower highs into 4500 base, sharp recovery off the low.
Gold carved a double bottom around 4500 after a multi-day decline from the 4880 April high, with a sharp impulsive recovery clearing the 4625 breakout level and reclaiming both EMA20 and EMA50. Current action is a pullback after tagging the 4758 swing high, with price digesting around 4715. Recovery momentum is intact while 4685 holds.
Support: 4,685.00, 4,625.00, 4,500.00
Resistance: 4,758.00, 4,810.00, 4,880.00
What it said to watch
- H4 close back below 4685 swing low would re-open the downside toward 4625
- Break and hold above 4758 swing high opens path to 4810 prior pivot
- Failure at 4685 with a lower-low invalidates the double bottom read
- US CPI release this week could materially shift the read