$Gold.com(GOLD.US)

🏆 Weekly Gold (XAUUSD) :Major Trendline Breakdown

🔷 Market Overview

Gold suffered a sharp liquidation this week, closing down -0.74% at $4,509.69. The daily chart confirms a devastating technical breakdown below the long-term blue ascending trendline

Which I mentioned 2 weeks ago. The bears have completely broken the defense.

🔷 Technical Snapshots

🟢 Bollinger Bands (Daily)

Price sits at $4,509.69, slicing through the lower band before settling just above $4,455.29. The middle band ($4,610.59) is now distant overhead resistance.

On the 4H frame, the price is locked beneath the middle band ($4,516.20), with a falling upper cap at $4,560.61.

🟢 RSI (Relative Strength Index)

Daily RSI has plummeted to 39.98, confirming accelerating bearish momentum with room to slide into oversold territory (30).

The 4H RSI is at 42.54, showing dominant seller control. Any upward ticks remain heavily capped by a falling yellow signal line (45.59).

🟢 Support & Resistance

Immediate support: $4,471.80 (4H lower BB) and $4,455.29. Major support: $4,300.

Resistance: $4,516.20, $4,560.61, and $4,610.59.

🔷 Fundamental Snapshots

The narrative has turned toxic for non-yielding gold. Broad macroeconomic data continues to run hot, feeding expectations that the Fed will retain a hawkish stance.

Interest rates are projected to remain “higher for longer” to combat sticky inflation, global capital is aggressively fleeing safe havens for yield, sparking institutional gold liquidations.

🔷 Next Week: Key U.S. Economic Data to Watch

🟢 CB Consumer Confidence - 26 May 2026

🟢 Preliminary GDP, Unemployment Claims and Core PCE Price Index (Fed’s favorite gauge)- 28 May 2026

🔷 The Verdict

Strong Bearish bias. The structural loss of the key trendline shifts the macro picture to the downside. Expect relief rallies to be sold into and a daily candle close back above $4,610.59 that stabilises the market.

Not financial advice. Practice risk management.😉