Channel Support Test

The pullback now probes these former breakout levels as potential support. Holding here would reinforce bullish continuation; a weak daily close, however, risks failure of the channel lines and opens deeper correction toward the 20-day average.

Core Dynamic Support

The 20-day average at $4,072—recently sideways and now edging lower—defines the primary near-term floor. The 10-day average at $4,049 adds short-term confluence, having proven support on both Monday and last Friday to fuel the ongoing advance.

Higher Low and Trend Line

Gold retains its higher swing low at $3,886 and stays above the new uptrend line connecting that base. Preserving this structure keeps the broader bullish trend intact despite short-term pressure.

Weekly Confirmation Pending

This week’s decisive signal hinges on the weekly closing. A finish above the $4,109 weekly high would validate the breakout to today’s three-week peak at $4,245 and cement intermediate strength.

Upside Targets

Surpassing $4,245 targets the 78.6% Fibonacci retracement at $4,275. A clean push through that zone brings the $4,381 record high back into focus. The overall bull structure—untested rising 50-day average and supportive 10-week moving average—favors eventual continuation.

Outlook

Gold’s test of the reclaimed channel lines will dictate near-term tone. Support at $4,145–$4,072 must hold to protect the breakout; failure opens risk to the 10-day and 20-day confluence. A weekly close above $4,109 confirms momentum and targets $4,275–$4,381. Any deeper pullback to dynamic averages would remain healthy for the trend, allowing demand to reload before the next assault on record highs.