21:01 UTC
Downtrend after parabolic blow-off, basing · RSI 43 · price 4,555.46
Lower highs since 5419 peak, range forming 4450-4750.
Gold remains in a corrective phase after the late-January parabolic top at 5598 collapsed into the 4099 crash low. Since mid-February price has carved a series of lower highs, with the most recent leg rolling from 4793 back toward the 4450 swing low, and the last eight sessions consolidating in a tight 4450-4580 band. Price sits below both EMA20 and EMA50, while RSI hovering in the low 40s shows momentum stabilising rather than extending lower.
Support: 4,450.00, 4,306.10, 4,099.08
Resistance: 4,670.00, 4,793.00
What it said to watch
- Daily close below 4450 swing low opens path to 4306 and the 4099 crash low
- Reclaim of the 4670 ema20 zone would challenge the lower-high sequence
- Middle East / Hormuz headlines remain the dominant macro driver — escalation or de-escalation could reset this read