continue to consolidate following the June 17th high of 4,403.6, which occurred within a critical cycle window and directly beneath major weekly VC PMI resistance. The decline that followed reached 4,138.7 on June 19th, completing a near-perfect test of the Daily Buy 2 level at 4,142. The market has since stabilized near 4,199, indicating that buyers are defending value below equilibrium.
- Weekly Sell 2: 4,474
- Weekly Sell 1: 4,403
- Weekly Mean: 4,289
- Daily Sell 2: 4,359
- Daily Sell 1: 4,324
- Daily Mean: 4,272
- Daily Buy 1: 4,194
- Daily Buy 2: 4,142
The current VC PMI structure identifies 4,272 as the Daily Mean Price. Trading below this level keeps the market in a neutral-to-bearish short-term mode, while a close above it would trigger a bullish shift in sentiment. Above the mean, resistance is located at Sell 1 Daily (4,324) and Sell 2 Daily (4,359). Weekly resistance remains significantly higher at 4,403 and 4,474, which represent extreme overbought conditions.
From a cycle perspective, gold remains within the larger bullish framework established by the major low recorded during the spring cycle window. The June 17 high coincided with a key cycle date and a Square of 9 geometric resistance angle. The subsequent decline into June 19 completed a three-day corrective cycle and created a potential higher low. The market is now entering a new cycle phase extending into the final week of June and early July.
Using Square of 9 calculations, the 4,138–4,142 support zone aligns with an important 90-degree vibration from prior cycle lows. This confluence of VC PMI support and Square of 9 geometry increases the probability that the correction is nearing completion. A close above 4,272 would confirm the next bullish cycle phase and project an advance toward 4,324, 4,359, and potentially a retest of 4,403.
The MACD indicator has crossed into positive territory, suggesting downside momentum is weakening. Volume characteristics also indicate accumulation near support rather than liquidation. As long as gold remains above the Buy 2 level, the larger trend remains constructive.
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Disclosure: The VC PMI is a proprietary quantitative trading methodology designed to identify statistically significant levels of support and resistance. Cycle analysis and Square of 9 projections are mathematical tools used to identify potential turning points and should not be interpreted as guarantees of future performance. Trading futures, options, and leveraged instruments involves substantial risk of loss and may not be suitable for all investors. Past performance is not indicative of future results. Always consult a licensed financial advisor and employ proper risk management before making investment decisions.
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