Gold is moving sluggish and heavy this day, and both charts tell the same story: compression, hesitation, and pressure from above.

On the 15-minute chart, price is coiling inside a symmetrical triangle while sitting right above the $4,032 support zone. Buyers are defending, but not convincingly, every push into $4,055–$4,058 fades, and every attempt to break out into $4,065 gets slapped down.

The short-term structure is clearly leaning bearish unless the triangle breaks to the upside.

On the 1-hour chart, the picture becomes even more obvious. Gold is still trapped beneath a major descending trendline coming from last week’s highs. Every retest of this trendline gets rejected fast, and the candles continue to print lower highs, a classic sign that sellers remain in control of momentum.

The broader structure hasn’t changed much: we’re trading inside a wide resistance band at $4,067–$4,100 and a wide support band at $4,032–$4,010. Price is now hovering at the top of the support band, and the slow grind lower shows sellers probing for a breakdown.

SMA structure confirms the weakness:

  • Price is under the 50 SMA

  • Price is under the 200 SMA

  • Both SMAs are starting to angle downward

In short: the pressure still points to the downside.

What would flip the tone?

Gold MUST break out of the triangle and reclaim $4,067. That’s your intraday trigger for any recovery. If bulls manage to break that, then $4,100 becomes the next magnet, followed by the cleaner upside level at $4,130.

But if $4,032 gives out, the move accelerates. Liquidity sits at $4,010 and the deeper support at $3,965 and gold has a habit of tapping those levels when volatility picks up.

Key Levels I’m Watching

Resistance:
• $4,055, $4,067, $4,100, $4,130

Support:
• $4,032, $4,010, $3,965

My Takeaway

Gold is compressing inside a triangle while sitting on top of support, a classic “decision point” setup. As long as price remains below $4,067, sellers keep the upper hand. A breakdown below $4,032 exposes $4,010-$3,965, while a bullish break above the triangle could fuel a push toward $4,100.

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