Gold cooled off today after several days of steady grinding to the upside. The structure finally broke when the rising trendline, the same one that guided every bounce since the 25th, gave way during the early session. And the reaction was clean: the moment price lost that diagonal, buyers stepped aside and sellers took their shot.
On the 15-minute chart, the story is clearer. Price kept making higher highs inside that ascending channel, but the momentum faded as soon as Gold tapped resistance around $4,170. This is a level we’ve been watching since Monday, and the repeated rejections finally built enough pressure for a downside break. Once candles closed under the trendline, price slid directly into $4,148, the first meaningful support of the day.
On the 1-hour chart,, the shift in structure becomes even more obvious. Gold failed to clear the $4,170–$4,190 resistance band, and instead printed lower highs before snapping the trendline. The 50 SMA and 200 SMA are still pointing up, meaning the overall trend hasn’t flipped bearish, but intraday momentum has definitely weakened. Price is now trading underneath the trendline, using it as resistance, which is a classic early-stage pullback signal.
For bulls, the key battleground is simple:
Hold above $4,148
If this level holds, the pullback stays healthy and Gold can attempt to retest $4,160 and possibly reclaim the broken structure.
Lose $4,148 → $4,130
That’s where things open up for a deeper correction toward the $4,115 and even $4,100 zones, both areas loaded with prior liquidity.
Upside targets remain the same if buyers step back in:
$4,160 → first reclaim level
$4,170 → intraday resistance
$4,190 → major wall for the week
But right now, buyers need to prove themselves. The edge shifted slightly toward sellers after the trendline break, and unless price recovers above $4,160, every bounce is just a bounce, not a reversal.
Key Levels I’m Watching
Resistance:
$4,160, $4,170, $4,190
Support:
$4,148, $4,130, $4,115, $4,100
My Takeaway
Gold finally took a breather after its multi-day climb. The rising trendline break is the first real sign of momentum cooling, and intraday bias leans neutral-to-bearish unless price reclaims $4,160. Watch $4,148 closely, it’s the pivot that decides whether this is just a pullback… or the start of a deeper slide.