Gold gave back its modest intraday recovery as fading Fed rate-cut expectations brought fresh support to the USD.
Even though price is still holding above the psychological 5000 area, the rebound is already losing traction, and that keeps the broader tone fragile.
What the chart is saying
On H4, gold is still trading inside a weak structure after failing to build on its latest bounce.
The recent push higher ran into resistance around the local trendline intersection, then quickly rolled over again. That kind of reaction usually tells us the market is not ready to turn bullish yet.
The drop back below the short-term confirmation area also shows that buyers are no longer in control of the immediate flow.
Risk path
As long as price stays capped below the recent recovery ceiling, the chart still leans toward another test lower.
The first downside zone sits around 496x, and if that support fails to hold, the deeper liquidity area near 4906 becomes a realistic path.
Levels that matter
5000 remains the key psychological line
496x is the first support band
4906 is the deeper bearish extension zone
Kelly’s approach
For Kelly, this is still a market where structure has to lead.
Holding above 5000 is not enough on its own. Buyers need to reclaim control, not just slow the decline.
Conclusion
Gold is still above 5000 in price, but not yet above it in strength.
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⚠️ This is personal analysis, not financial advice
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📌 New analysis published daily
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⚠️ This is personal analysis, not financial advice
Daily GOLD and Forex updates: t.me/+SOSI26CZOJ1mZDhl
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⚠️ This is personal analysis, not financial advice
Daily GOLD and Forex updates: t.me/+SOSI26CZOJ1mZDhl
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Thông báo miễn trừ trách nhiệm
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