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.
21:04 UTC
Downtrend, oversold bounce · RSI 39 · price 4,218.67
Lower highs / lower lows since late-Feb peak.
Quarter-long downtrend from the late-Feb 5419 peak; price sliced through the 200-DMA and erased YTD gains, bottoming at a 4023 six-month low this week before a deeply-oversold RSI drove a bounce back toward 4220. In-line CPI alongside hot PPI kept Fed-hike bets and real yields elevated, the core headwind capping gold. Price still holds below both EMA20 and EMA50, with the rally corrective relative to the broader decline.
Support: 4,023.00, 4,000.00
Resistance: 4,475.00
What it said to watch
- FOMC dot plot Jun 17 (18:00 UTC) is the dominant catalyst and could materially shift this read
- Daily close back above 4475 prior swing would challenge the lower-high chain
- Failure to hold the 4023 six-month low opens the 4000 psych floor
21:04 UTC
Downtrend, oversold bounce · RSI 38 · price 4,218.67
Lower highs / lower lows since Feb peak.
Gold has been in a sustained D1 downtrend since the late-February peak near 5419, shedding roughly $1,400 into the 4023.89 six-month low printed this week as in-line CPI and a hot PPI kept Fed-hike bets alive and drove price through the 200-DMA. Price now sits at 4218 below both EMA20 (~4450) and EMA50, with RSI lifting off oversold as buyers stabilise around the $4,200 area. The last two sessions are a corrective bounce off the 4000 psychological floor, not yet a structural shift.
Support: 4,023.89, 4,000.00
Resistance: 4,363.46, 4,450.00
What it said to watch
- FOMC dot plot Jun 17 18:00 UTC is the dominant catalyst and could materially shift this read
- Failure to hold 4000 psych opens a retest of the 4023.89 six-month low and below
- A D1 close back above the 4363 prior swing would challenge the lower-high chain