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, near lows · RSI 43 · price 4,018.37
Lower highs, lower lows since May.
Multi-month downtrend intact — gold has printed lower highs and lower lows since the May peak near 4595, trading below a falling EMU(50) throughout the slide. Price probed the 3941 YTD low region, found demand near 3960 and has crept back above the 4000 psychological pivot into the latest close at 4018, but the recovery is shallow. The energy-driven revival of Fed-hike bets and firm USD noted in the macro read has kept bounces capped.
Support: 4,000.00, 3,941.00
Resistance: 4,123.00
What it said to watch
- D1 close below 3941 confirms a fresh lower-low and opens deeper downside
- Reclaim of 4123 needed to threaten the sequence of lower highs
- S&P Global PMIs (Jul 24) are the next high-impact catalyst for this read
21:05 UTC
Downtrend, consolidating at lows · RSI 45 · price 4,018.37
Lower highs / lower lows since Feb peak.
Multi-month downtrend from the February high near 5128, with price now pinned at 8-month lows below a falling EMA(50) and the $4,000 psychological pivot. The last three weeks have coiled between the 3959 swing low and roughly 4175, with repeated failures to reclaim $4,000 as firm USD and oil-driven inflation fears cap bounces. The 3941 YTD low sits just below and remains the pivotal downside marker.
Support: 4,000.00, 3,959.13, 3,941.00
What it said to watch
- A D1 close below 3941 ytd low opens deeper downside
- Sustained reclaim of the 4000 psych pivot would ease the bearish read
- S&P Global PMIs (Fri 24 Jul) are the next high-impact catalyst for USD and gold