Range and Support Structure

A failed move keeps gold trapped inside a five-day tight range between $4,164 and $4,264. The rising 10-day average at $4,186—successfully defended this week—remains the primary near-term dynamic support alongside this week’s $4,164 low. As long as gold holds above the 10-day line, the bias stays bullish.

Confirmation Levels

A daily close above Thursday’s $4,219 high would show minor strength, but true breakout validation requires settlement above last week’s high and the six-week peak at $4,245. A decisive push and sustained trade above $4,264 is ultimately needed to prove buyers are back in charge.

Weekly Pattern Evolution

The recent correction ended with a higher swing low at $3,886, followed by a repeating sequence: inside week to upside breakout to inside week to upside breakout. This week has deviated slightly with a very narrow range mostly near last week’s highs instead of a fresh advance, yet the relative strength is clear, and gold is on track for its third-highest weekly close in history.

Broader Support Backdrop

Friday’s bounce off the 10-day average reinforces its short-term importance. Should it fail, the 20-day average at $4,144—currently converging with the late-November uptrend line—steps up as the next significant dynamic defense.

Outlook

Gold continues flashing higher-price potential, but momentum remains conspicuously absent. Hold the 10-day average and deliver a close above $4,241–$4,245 to keep the bull case intact and target $4,264+; failure to do so risks another leg lower toward the 20-day/trendline confluence while the larger uptrend stays safe with price above the 50-day average, now at $4,076.

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