In today’s intraday gold breakdown, price is recovering from yesterday’s heavy selloff but is still trading below a clean descending trendline visible on both the 15-minute and 1-hour charts. The reaction off 4,083 shows buyers defending intraday structure, but momentum hasn’t flipped bullish, yet.
On the 15-minute chart, gold is consolidating right under 4,109 after bouncing from 4,038 earlier. This zone (4,109–4,122) is where intraday direction gets decided.
The trendline rejection is still capping every push higher, showing that sellers remain active on every retest.
On the 1-hour chart, the picture is clearer: gold broke its previous upwave, retested the underside of the trendline, and is now stuck between the 50 EMA above and the 200 EMA below. This usually signals a pause before the next leg, either a continuation drop or a recovery squeeze.
What matters most for today’s daily breakdown:
Holding 4,083 keeps gold stable intraday.
Losing 4,083 exposes 4,038 and then 3,993, a deeper pullback into the higher-timeframe demand zone.
Reclaiming 4,109, then 4,122, and especially 4,146, would break the intraday downtrend and give bulls back short-term control.
The daily chart is still bullish long-term, but today’s session shows gold cooling off and respecting resistance.
Intraday Key Levels I’m Watching:
Resistance: 4,109 • 4,122 • 4,146
Support: 4,083 • 4,038 • 3,993
My Takeaway:
Gold is stabilizing, but the downtrend line is still the boss. Break it, and bulls regain momentum. Fail to break, and we retest lower supports. That’s just how it is.