GOLD WEEKLY CHART MID/LONG TERM ROUTE MAP

Hey Everyone,

Last few weeks, Gold delivered a significant technical development as our unique Goldturn Channel floor was decisively broken on the weekly chart, confirming a shift in market structure and opening the door for a move through progressively lower Goldturn levels.

Channel Floor Breakdown
After several weeks of trading within the rising Goldturn Channel, price failed to hold the channel floor. The breakdown was confirmed as weekly candle body closed beneath key support, signalling that bullish channel control had been lost.

Goldturn Levels Broken Sequentially
Following the channel breakdown, price moved lower through our Goldturn structure level by level:

5104 Goldturn - Lost support and failed to attract sustained buying.

4763 Goldturn - Weekly weakness continued and this level was broken.

4462 Goldturn - The next major support failed, opening the path lower.

4338 Goldturn - Price moved through this level as downside momentum accelerated.

4132 Goldturn - Current focus. Price has now reached and is reacting at this important Goldturn support level.

The market is currently attempting to find footing around 4132 Goldturn, making this the key level to monitor in the coming weeks.

What Typically Happens After This Type of Breakdown?

Historically, when a weekly chart channel of this type breaks down and lower Goldturn levels begin acting as support, we often expect:

A challenge back toward the broken channel floor.

The former channel support then becomes potential resistance.

Price will either:
Establish a new lower trading range beneath the channel, or
Successfully break back above the channel floor after retesting it as resistance, which would suggest the channel can be extended and the broader uptrend may resume.

The most important technical event now is whether price can rally back and test the broken channel floor.

The market's reaction at that retest will provide valuable clues regarding the next major directional move.

Next Expectation:
Retest of the channel floor as resistance

We will continue to monitor price action around the 4132 Goldturn and any potential retest of the broken channel boundary.

As always, we will keep you updated as new developments emerge.

Mr Gold