GOLD MONTHLY CHART LONG TERM/RANGE ROUTE MAP

Hey Everyone,

As we close the month, the monthly chart continues to confirm a bearish corrective phase following the strong bullish expansion that previously drove price into the upper Goldturn zones.

A key development over the last few months is that both the 5,298 and 4,843 Goldturn gaps have been filled, with a continuation to the downside correction projected on previous analyses. The inability of price to reclaim and hold above these levels resulted in continued bearish pressure throughout the last 3 months.

Failure to secure a monthly candle body close above 5298 in March confirmed weakening bullish momentum.

The subsequent decline extended into the 4,843 Goldturn level.
Once this support gave way, it opened the path for the next downside objective.

Bearish Continuation into 4,514.
The bearish move continued driving price into the 4,514 Goldturn level.

This area has now become the most important level on the monthly chart.
4,514 is a Major Pivotal Support Zone
The 4,514 Goldturn level is proving to be a strong structural support, having been respected over four consecutive monthly candles with wick outs, including the current month.

This repeated defence highlights:
Strong institutional interest around the level.

A significant historical demand zone.

A pivotal support area that could determine the next major directional move.

As long as monthly candle bodies continue to hold above 4,514, the market retains the potential for stabilization and a renewed push higher.

Looking Ahead
Bullish Scenario
Sustained support above 4,514 could trigger a recovery toward:
4,843 GoldTurn
5,298 GoldTurn
Potentially 5,720 Goldturn if bullish momentum strengthens.

Bearish Scenario
A decisive monthly candle body close below 4,514 would signal a loss of this pivotal support.

This would open the broader Swing Range Zone, exposing lower Goldturn targets around 4,010 and beyond.

Month End Summary
4,514 continues to act as a major pivotal support, having held firm across four monthly candles including this month's close. The market now sits at a critical decision point where the reaction around 4,514 is likely to dictate the next major monthly trend direction.

Key Levels to Watch
Resistance: 4,843, 5,298, 5,720

Pivotal Support: 4,514
Breakdown Target: 4,010
The market remains technically bearish below 4,843 in the short term, but the resilience of 4,514 keeps the possibility of a larger bullish recovery firmly in play.

We will keep you all updated

Mr Gold