Gold Tests $4,650 Support Ahead of Triangle Breakout

Gold is testing support near $4,650 after failing to clear a $4,772 target. The metal is trading inside a daily symmetrical triangle that formed after a January peak near $5,598 and a pullback to the 0.618 Fibonacci level.

On the four-hour chart, price rolled over after reaching $4,772 and is probing the $4,650 demand zone for a second time. The Relative Strength Index sits near 50 and the MACD prints taller red histogram bars. If $4,650 holds, the 0.382 Fibonacci at about $4,842 is the next technical target. A break below $4,650 would expose support near $4,500 and then the 0.618 level around $4,376.

On the daily timeframe, price has coiled inside the symmetrical triangle. The upper triangle band and the 0.382 retracement near $4,842 are limiting gains, while the 0.618 retracement close to $4,376 anchors the downside. Bollinger Band width is near the midrange and the triangle’s apex is approaching.

Short-term order flow shows a series of lower highs and a distribution range following the parabolic run higher. Price stabilized near $4,666 after a liquidity sweep toward the $4,000 area. Traders are treating $4,650 and the $4,800-$5,000 cluster as trigger levels for the next directional move.

Analyst Sebi wrote on social media that gold is in a corrective phase after the parabolic advance to about $5,600 and that reclaiming $4,800-$5,000 is required to shift the local bias. “We need to see a decisive reclaim of the $4,800–$5,000 cluster to invalidate the local bearish bias and resume the expansion. Until then, expect further consolidation as momentum resets,” the analyst wrote, adding that the broader macro trend remains bullish despite heavy short-term order flow.

The current technical framework stems from the January peak near $5,598 and the subsequent correction. Until the symmetrical triangle resolves, the daily setup remains directionally neutral and market participants will watch the noted Fibonacci levels and the $4,650 pivot.