Alex Dudov
Gold is attempting to find its footing after a sharp decline, holding above the $4,305 mark as noted by Kamile Uray. The structure remains conditional - both a bullish recovery and further downside remain on the table depending on how price reacts around key levels in the sessions ahead.
The $4,305 Level Keeping the Gold Bullish Scenario Alive
The chart shows $4,305 acting as a critical base for the current recovery attempt. As long as price holds above this zone, expectations for a move higher remain intact.
Price is holding above $4,305, which keeps the recovery scenario alive - but the structure is still fragile and needs confirmation before calling a reversal.
That said, the setup remains fragile. A close below $4,351 would signal renewed weakness and open the door for another leg lower. This creates a narrow decision zone where the market must commit to either continuation or further correction.
Why $4,735 Is the Key Gold Resistance Trigger
The $4,735 level stands out as the main resistance on the chart. A confirmed close above it would mark the first significant higher high following the recent decline - a meaningful shift in structure.
A close above $4,735 would be the first real sign that the recovery is gaining traction and has the momentum to push higher.
Gold Faces $4,600 Resistance After $4,660 High highlights exactly this pattern - how price tends to struggle below key resistance zones during recovery phases before a decisive break either confirms or invalidates the move.
If $4,735 breaks and price closes above the descending trendline, the next resistance zone comes into focus around $5,203-$5,275. A breakout above that region would open the door to a retest of previous highs.
Gold Structure Still Waiting on Confirmation
The chart reflects a market trying to recover but not yet confirming a trend reversal. Price remains below the descending trendline and key resistance, keeping the broader structure neutral-to-bearish.
Until gold closes above the descending trendline, the recovery is just an attempt - not a confirmed trend shift.
Failure to break above $4,735 would maintain downside pressure and suggest the corrective move has more room to run.
Gold Breaks Below $4,450 as Selling Pressure Builds walked through a similar setup where failure to reclaim resistance led to an extended decline - a scenario that remains relevant here if $4,735 continues to cap upside.
Where Downside Could Extend If Gold Support Fails
If weakness returns, several support levels come into play. The chart outlines the following potential downside targets:
- $4,261
- $3,992
- $3,887
- $3,674
Each of these levels represents an area where price may find support if the correction deepens. A confirmed reaction at any of these zones could provide the foundation for another recovery attempt.
Gold Tests $4,600 Resistance After Rebounding 8% From $4,200 Low offers additional context on how recovery attempts from similar lows tend to play out - often stalling at resistance before either breaking through or rolling back over.
The focus now is on whether gold can reclaim $4,735 or continue to find rejection there. A breakout signals strength and opens the path toward $5,203. Continued failure keeps the bearish structure intact and puts the downside targets back in play. For now, gold sits in a decision zone - and the next move will likely be the one that matters.
Alex Dudov
