Gold Price Bearish Momentum Continues Amid Ongoing Volatility
The gold market is currently in a bearish configuration due to its recent price action. Gold futures have been trading near $4411.3 after rejecting the upper VC PMI resistance structure and moving back below the Weekly VC PMI mean at $4437.
This indicates that short-term momentum remains bearish until the price can reclaim the $4432-$4437 mean cluster. The chart shows Daily Sell 1 at $4482, Daily Sell 2 at $4542, while weekly resistance is concentrated near $4500, followed by Weekly Sell 2 at $4581.
On the downside, Daily Buy 1 at $4372 converges closely with Weekly Buy 1 at $4365, creating an important high-probability mean-reversion support zone. Gold has already registered a low of $4365.5, confirming that buyers are responding to this level.