Gold is still feeling heavy today, and the charts show it clearly. On both the 15-min and 1-hour timeframes, we’re still trading inside a well-defined descending channel, every pop gets sold, and momentum keeps leaning lower.
Price is currently sitting around the $4,032 support area, which has been acting as the short-term floor. But the way candles are pressing into it suggests sellers aren’t done yet. Below this level sits the real liquidity pocket at $4,010, followed by the broader downside region around $3,965, a zone that has repeatedly caught deep dips.
On the 1-hour chart, the structure is even clearer: price is trapped under the trendline from last week’s high, and every retest has been rejected. Bulls need to flip $4,067 first, that’s your intraday “line in the sand.” Anything below keeps the momentum pointed downward.
The moving averages also support the bearish tone:
Price is under the 50 SMA
Price is under the 200 SMA
And the slope of both SMAs is angled down
The path of least resistance is still to the downside unless buyers step in aggressively.
If Gold can reclaim $4,067, there’s room for a recovery push toward $4,100, but until that break happens, every bounce is just a bounce, not a trend shift.
Key Levels I’m Watching:
Resistance: $4,067, $4,100, $4,145
Support: $4,032, $4,010, $3,965
My Takeaway
Gold is weak, trending down, and still respecting the descending channel.
As long as we remain below $4,067, sellers stay in control. Watch how price behaves around $4,032, it’s the key pivot for the next move. A clean break below exposes $4,010 and $3,965, while a reclaim of $4,067 opens the door for potential relief toward $4,100.