Gold Tests $4,650 Support as Triangle Tightens

Gold is testing support at $4,650 inside a narrowing daily symmetrical triangle on the XAU/USD chart. The metal failed to clear a short-term target near $4,772 and is trading in a tight range as the triangle apex approaches.

On the daily chart, the upper band of the triangle recently rejected the price. The 0.382 Fibonacci retracement sits near $4,842 and is capping upside moves, while the 0.618 retracement is near $4,376 on the downside. The Bollinger Band Width Percentile is around 50 percent and the daily Relative Strength Index reads neutral.

On the 4-hour chart, price is testing the $4,650 demand zone for a second time after reaching $4,772. A clean close above $4,650 would open a path to $4,842 and the 0.236 Fibonacci near $5,131. A close below $4,650 would expose an interim cushion around $4,500 and, if that level breaks, a possible retest of the previously broken descending channel and the $4,376 area.

Short-term momentum indicators are neutral to mildly bearish. The 4-hour RSI sits around 50 and is slipping, while the MACD histogram shows larger red bars. Traders focused on short-term flows are treating $4,650 as the immediate pivot.

The current consolidation follows January’s peak near $5,598 and a subsequent retracement to the 0.618 Fibonacci. Analyst Sebi posted on X that gold is in a corrective phase after the run to about $5,600 and that a reclaim of the $4,800–$5,000 range would be required to reduce the local bearish bias.

Until the symmetrical triangle resolves, the daily setup remains directionally neutral. Traders are watching closes above $4,800 and below $4,376 as the triggers for the next clear directional move in gold.