Continuing from 31 Aug's update — gold was consolidating inside a support range after the spike low near $4,395. Not much has changed since: price is still rangebound at $4,439.58, essentially flat, with the broken $4,565–$4,630 shelf still capping any recovery attempt overhead.
Price: $4,439.58 | Timeframe: H4
Key Levels
🔴 Resistance: $4,700 — high was $4,687.68, capped the 24–25 Aug rally
🟡 Resistance: $4,565–$4,630 — broken pivot shelf, still overhead
🟢 Support: $4,415–$4,464 — current range, holding for 3+ days now
🟢 Support: $4,300–$4,395 — deeper structural support (11–13 Aug pause)
Setup
Three-plus days of sideways action in the $4,415–$4,464 band after the sharp break lower is starting to look like genuine consolidation. The $4,300–$4,395 zone below is the next real structural shelf if this range fails — it's where price paused during the run-up in mid-August, not just an arbitrary round number.
Breakout / Recovery Scenario
Trigger: Reclaim and close above $4,565
Target: $4,630 → $4,700
Invalidation: Close back below $4,415
Breakdown Scenario
Trigger: Confirmed H4 close below $4,415
Target: $4,395 → $4,300
Invalidation: Reclaim above $4,464
Technical analysis for educational purposes only. Not financial advice. Chart: user's own H4 XAUUSD terminal.
