Gold is starting to rebuild after the recent pullback, and the current structure suggests the market is not ready to give up the broader recovery just yet.
The latest decline cooled momentum, but it did not break the chart completely.
Instead, price is now reacting around the 4668–4600 buy zone, which remains the key area keeping the short-term recovery view alive.
Technical picture
The chart still shows a broader bullish framework, even though the recent rejection from the highs created short-term pressure.
What matters now is that gold is attempting to stabilize above support rather than extending the selloff immediately.
The key levels are clear:
4785 remains the first upside resistance
4668–4600 is the active recovery base
4550 is the deeper fallback support if the first zone fails
As long as price continues to hold above the current support shelf, the pullback can still be treated as a correction inside a larger bullish structure.
What matters next
For Kelly, this is where patience matters more than prediction.
If buyers defend the 4668–4600 zone cleanly, gold can rotate higher and retest the 4785 area.
A stronger recovery from there would keep the broader trend constructive and reopen the path for another leg higher.
If support gives way, then the market may need a deeper reset before the bullish structure can rebuild again.
Kelly’s view
This is not a chart in breakdown mode.
It is a chart testing whether support is strong enough to restart the trend.
That is why the current zone matters so much.
If gold holds here, the recovery stays alive.
If not, the market may need more time before the next real move develops.
For now, gold is under pressure — but the broader recovery structure is still trying to hold.
The latest decline cooled momentum, but it did not break the chart completely.
Instead, price is now reacting around the 4668–4600 buy zone, which remains the key area keeping the short-term recovery view alive.
Technical picture
The chart still shows a broader bullish framework, even though the recent rejection from the highs created short-term pressure.
What matters now is that gold is attempting to stabilize above support rather than extending the selloff immediately.
The key levels are clear:
4785 remains the first upside resistance
4668–4600 is the active recovery base
4550 is the deeper fallback support if the first zone fails
As long as price continues to hold above the current support shelf, the pullback can still be treated as a correction inside a larger bullish structure.
What matters next
For Kelly, this is where patience matters more than prediction.
If buyers defend the 4668–4600 zone cleanly, gold can rotate higher and retest the 4785 area.
A stronger recovery from there would keep the broader trend constructive and reopen the path for another leg higher.
If support gives way, then the market may need a deeper reset before the bullish structure can rebuild again.
Kelly’s view
This is not a chart in breakdown mode.
It is a chart testing whether support is strong enough to restart the trend.
That is why the current zone matters so much.
If gold holds here, the recovery stays alive.
If not, the market may need more time before the next real move develops.
For now, gold is under pressure — but the broader recovery structure is still trying to hold.
📌 New analysis published daily
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⚠️ This is personal analysis, not financial advice
Daily GOLD and Forex updates: t.me/+SOSI26CZOJ1mZDhl
🔔 Follow this profile for real-time updates
⚠️ This is personal analysis, not financial advice
Daily GOLD and Forex updates: t.me/+SOSI26CZOJ1mZDhl
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📌 New analysis published daily
🔔 Follow this profile for real-time updates
⚠️ This is personal analysis, not financial advice
Daily GOLD and Forex updates: t.me/+SOSI26CZOJ1mZDhl
🔔 Follow this profile for real-time updates
⚠️ This is personal analysis, not financial advice
Daily GOLD and Forex updates: t.me/+SOSI26CZOJ1mZDhl
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.