Every read JAFX AI made on the XAU/USD daily chart that day, newest first: trend, structure, the levels it marked and what it said to watch.
21:05 UTC
Downtrend transitioning, sharp breakout · RSI 63 · price 4,341.30
Base breakout above July range.
Gold's multi-month downtrend from April's $4,870 high bottomed near $3,940 in mid-June and based through July around 4000-4150. This week's ~7% surge — driven by a collapsing NFP (-23K) and softer wages — broke above the 50-day line and prior $4,300 resistance, closing at 4341. Bulls now eye the $4,380 mid-June high, with the $4,160 and $4,077 support ladder below.
Support: 4,160.00, 4,077.00
Resistance: 4,380.00, 4,500.00
What it said to watch
- US CPI on Wed Aug 12 could materially shift this read
- Daily close above 4380 opens path toward the 50% fib near 4500
- Failure to hold 4160 threatens a return to the 4077 support
21:05 UTC
Downtrend transitioning, momentum up · RSI 66 · price 4,341.30
Multi-week base broken to upside.
Gold spent June-July basing between roughly 4000 and 4130 after the April-June slide off 4857 bottomed at 3959. This week's ~7% surge — driven by the collapsing NFP print (-23K vs +80K) and cooling wages — broke that base and reclaimed the EMA(50), closing at 4341 near the top of the range. Price now sits just under the 4380 mid-June highs after four months of net decline.
Support: 4,160.00, 4,077.00, 3,959.00
Resistance: 4,380.00, 4,393.00
What it said to watch
- US CPI (Aug 12) is the key test — a hot print could revive yields and pressure this breakout
- Daily close above 4380 opens the path toward the 4393 prior high
- Failure to hold 4160 then 4077 would question the base breakout