4 min readWelcome to today’s daily technical update on Gold.
What a market we’re in—Gold continues to rally with force, showing relentless bullish momentum. With breakouts stacked on top of breakouts, we’re frequently readjusting key levels to stay aligned with the latest price structure.
In today’s update, we revisit the intraday structure based on last week’s levels and the recent breakout activity. Our last update was on Thursday, following the major breakout on Wednesday, where we noted a potential short-term top pattern forming.
In that update, we identified the $3,300 area as an important short-term support. That level was respected and held prior to Monday’s breakout, which pushed price significantly higher once again.
We’re now seeing new short-term structure forming, and price is aligning well with local Fibonacci retracement levels. Two areas of interest stand out for today:
- $3,445 , which aligns with the 0.618 retracement level of the most recent local up move
- $3,412 , the most recent swing low
If $3,445 holds, it could support another wave of bullish continuation. But if $3,412 breaks, it might signal the start of another short-term top formation—something we’ve seen develop during previous rally phases.
These are the key levels to monitor throughout today and the rest of the week. With volatility running high, it’s crucial to stay alert, respect risk, and avoid emotional decision-making in a market that is trending aggressively.
As always, proper risk management and capital preservation should remain the top priority—especially in an environment where gold is pushing into parabolic territory.
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