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TECHNICAL WATCH · GOLD · 4-HOUR · 11 AUGUST 2026

BIAS: Upside potential while Gold remains above 4,355

Gold remains constructive while holding above 4,355, a key support level around the 38% Fibonacci retracement on the 4-hour chart.

The main level I'm watching is 4,355. While Gold remains above this level, the focus remains on another test of 4,435 resistance.

LEVELS I'M WATCHING

4,435 — KEY RESISTANCE. 4,435 marks the 11 August high and is the immediate resistance level. A confirmed 4-hour close above 4,435 could open the way toward 4,529, followed by 4,594.

4,355 — KEY SUPPORT. This is the most important level in the current setup and represents the 38% Fibonacci retracement on the 4-hour chart. As long as Gold continues to hold above 4,355 on a 4-hour closing basis, the short-term outlook remains tilted to the upside.

4,305 — NEXT SUPPORT. A confirmed 4-hour close below 4,355 would weaken the current bullish setup and shift attention toward 4,305, the next Fibonacci support area.

4,223 — MAJOR DOWNSIDE SUPPORT. If Gold continues lower through 4,305, the next major level I'm watching is 4,223, around the 6 August low.

UPSIDE SCENARIO

Hold above 4,355 → retest 4,435. A 4-hour close above 4,435 → 4,529. Further strength → 4,594.

DOWNSIDE SCENARIO

A 4-hour close below 4,355 → watch 4,305. A break below 4,305 → watch 4,223.

CURRENT OUTLOOK: BULLISH ABOVE 4,355

The short-term upside bias remains intact while Gold holds above 4,355. A break above 4,435 would strengthen the bullish setup, while a confirmed 4-hour close below 4,355 would weaken it.

VOLATILITY DRIVER: U.S.–Iran developments

Updates surrounding the U.S.–Iran situation remain an important potential volatility driver for Gold, particularly through changes in geopolitical risk and safe-haven demand.

Personal market notes and observations only — not financial advice.

Gold is holding above an important level tonight while US equities remain relatively calm.

I'm watching whether the move continues once New York trading picks up.

The ASX finished the day close to flat with very little conviction either way. Volumes were light.

Days like this are usually about positioning ahead of offshore data rather than anything local.

A reminder to myself: a single day's move is data, not a trend. Most of what looks like a signal is noise with good timing.

Consensus is for a modest print. The interesting question is not the number itself but how much of it is already in the curve.