Continuing from 9 Sep's update — gold was stuck in tight chop around $4,398.14, between support and the $4,424–$4,456 resistance. Price has since drifted higher to $4,429.15, pushing right up against the bottom edge of that resistance band without a clean break through it yet.
Price: $4,429.15 | Timeframe: H4
Key Levels
🔴 Resistance: $4,700 — high was $4,697.17, capped the 24–25 Aug rally
🟡 Resistance: $4,565–$4,630 — broken pivot shelf, still well overhead
🟡 Resistance: $4,424–$4,456 — being pressed from below right now
🟢 Support: $4,300–$4,395 — holding for over a week now
Setup
Four days of consolidation have led price right back up to the level that's rejected it before. This is the moment that matters — a clean close through $4,456 would be a genuine change of character after a week of chop, while another rejection here keeps the range intact.
Breakout / Recovery Scenario
Trigger: Reclaim and close above $4,456
Target: $4,565 → $4,630
Invalidation: Close back below $4,300
Breakdown Scenario
Trigger: Confirmed H4 close below $4,300
Target: $4,230 → $4,200
Invalidation: Reclaim above $4,395
Technical analysis for educational purposes only. Not financial advice. Chart: user's own H4 XAUUSD terminal.
