Gold: Trend Structure Remains Intact as Price Holds Above Key Support

Welcome back, everyone, to another technical update on Gold.

We begin today’s analysis on the daily timeframe, where—despite some recent signs of indecision—the high timeframe bullish structure remains intact.

Price continues to form higher highs and higher lows, the defining characteristics of a strong trending market.

On the chart:

• The 20 EMA (purple)
• The 50 EMA (blue)
• And the ascending trendline (white)

…are all clearly visible and in alignment with the broader bullish narrative.

Most notably, price broke above this ascending trendline on April 11th, and is now using that trendline as support.
The most recent swing point formed directly on the trendline—potentially acting as a higher swing low.

Even if this level fails to hold, we have a key area of confluence just below, where the 20 EMA lines up with a horizontal support level near $3,250.
This zone would be a logical support area to monitor if sellers gain short-term control.

1H –  Price Compression Signals Incoming Volatility – Watch These Key Levels

Now turning to the 1-hour chart, we’re seeing that although price has reclaimed the range EQ, it is struggling to push higher.

Instead, price is now compressing tightly within the range, forming a coiled structure that typically precedes a larger move.
As many traders know, low volatility periods often give way to high volatility, and the direction of the breakout is the key question.

Here are the critical levels we’re watching:

• Range Highs (Resistance): ~$3,365
• Range EQ (Midrange): ~$3,315
• Range Lows (Support): ~$3,270

A breakout above $3,365 would be a significant technical development and could open the door for a retest of all-time highs around $3,500, or potentially even higher.
On the downside, a break below $3,270 would potentially bring the high timeframe support zone at $3,150 back into focus.

Today’s Key U.S. News Releases to Watch:

• GDP Growth Rate
• Personal Spending & Income
• Core PCE Price Index

These are all high-impact macroeconomic events, and any surprise—positive or negative—could act as a catalyst to break this compression and send gold moving sharply in either direction.
We’ll be watching these levels very closely throughout the session.

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