Gold Consolidates Below Key Pivot Ahead of Crucial September Timing Window
Gold futures closed at $4,389 in December, below the weekly VC PMI mean of $4,410. This positioning keeps the immediate short-term structure neutral to bearish, although the broader long-term trend remains constructive.
A sustained recovery above $4,410 would restore bullish momentum and place the first objectives at the daily Sell 1 level of $4,459 and the weekly Sell 1 level of $4,488.
On the downside, gold is approaching an important support cluster between the daily Buy 2 level of $4,347 and the weekly Buy 1 level of $4,332. A decisive close below $4,332 would weaken the current structure and expose the weekly Buy 2 target at $4,254.
The Square of 9 price geometry reinforces the importance of the $4,410 pivot and the surrounding $4,332, $4,488 range.