Higher highs into 4763, now correcting from week high.
Gold ran from 4511 at the start of the window up to a week high at 4763 before sharply rejecting back through 4732 supply, with the Iran-US headline flow weighing on the move late in the window. Price is now sitting below EMA(20) for the first time this week and RSI has rolled to the low-40s, marking a clear loss of momentum after the impulse. The breakout base near 4618 and intraday demand at 4687 are the structural references that define whether this is a pullback or a deeper correction.
Support: 4,687.00, 4,660.00, 4,618.00
Resistance: 4,732.00, 4,763.00
What it said to watch
H1 close back above 4732 supply would reassert the week's uptrend
Loss of 4687 swing low opens room toward the 4660 prior demand and 4618 breakout base
Further Iran/Hormuz headline escalation could materially shift this read
Higher highs into 4763 sweep, now ranging 4700-4750.
Gold has trended higher all week from the 4510 area, peaking at the 4763 week high during NY hours yesterday before a sharp rejection back under 4720. Price is now consolidating in a 4700-4750 range with RSI cooling to neutral and the EMA20 capping the latest bounce. The Friday US payrolls beat (+115K vs +62K) and Iran-US headline risk are keeping ranges wide.
Support: 4,700.00, 4,687.24
Resistance: 4,750.00, 4,763.38
What it said to watch
H1 close back above 4750 range top reopens the 4763 week high
Loss of 4700 psych and 4687 swing low breaks the uptrend structure
Fresh Iran/Strait of Hormuz headlines could materially shift this read
Higher-highs into 4763, pullback holding above 4700.
Gold has run from 4510 at the week's open to a 4763 week high, putting on roughly 250 points in four sessions with the NY session yesterday delivering the bulk of the move after the strong US payrolls print. Price has since rolled off into the 4715 area, sitting just under EMA20 with RSI cycling lower while the prior push made marginally higher highs — a softening of momentum at the highs. The 4702-4687 zone is the immediate structural floor; 4750-4763 caps the range top.
Support: 4,702.00, 4,687.00
Resistance: 4,750.00, 4,763.00
What it said to watch
H1 close above 4750 reopens the path to the 4763 week high and beyond
Loss of 4687 swing low breaks the sequence of higher-lows from Wednesday
Iran-US headline flow remains a tail risk for gold pricing