Gold Breakout Strengthens as Price Targets $4,649
Gold futures have entered a critical cycle window following its powerful reversal from the August 18-19 low. The market is currently in a bullish breakout structure, with gold trading above $4,579.90 and challenging the upper weekly resistance zone.
The Daily VC PMI mean at $4,558 represents the principal short-term equilibrium, and as long as price holds above this level, the momentum bias remains bullish. The next major objectives are Weekly Sell 2 at $4,581, followed by Daily Sell 1 near $4,600 and Daily Sell 2 at $4,649.
On corrections, $4,558 becomes first support. Below the mean, Daily Buy 1 at $4,519 represents the preferred first high-probability reversion-buying zone, followed by Daily Buy 2 at $4,467. Weekly support remains substantially lower at approximately $4,445, $4,365 and $4,293.