Gold pauses after recent surge, but bullish momentum stays intact above $4100

Gold remains in a consolidation phase for the second day, as bulls pause following Monday’s strong rally that broke key resistance levels and generated fresh bullish signals.

Limited profit-taking has kept the price supported above $4100, while upward moves faced resistance at $4145 and have yet to close above the critical Fibo level at $4134 (50% retracement of $4381/$3886, daily Kijun-sen, and bull-channel upper boundary). A decisive break above this level could trigger renewed acceleration to the upside.

Daily indicators remain largely bullish, with moving averages in full bullish alignment, though the 14-day momentum is stuck near the midpoint and the stochastic shows overbought conditions, signaling a lack of clear near-term direction.

The metal’s steadiness after the latest rally maintains the overall bullish bias, keeping attention focused on further upside potential. The current pause is largely driven by anticipation of the US House vote on reopening the government, which would release delayed economic data and provide clarity on the US economy and the Fed’s policy outlook.

In the bullish scenario, a sustained break above $4134 would open the path toward $4192/$4200 (Fibo 61.8% / psychological) and potentially $4264 (Fibo 76.4%) in extension. Meanwhile, support at $4100 should hold dips, with a lower safeguard at $4075 (broken Fibo 38.2% / 20DMA); a drop below this level would turn the near-term outlook bearish.

Res: 4100; 4134; 4150; 4192
Sup: 4100; 4075; 4046; 4038