Wed, 29 Apr 2026 08:03:03 +0000
theresident, gold, trading

Gold gets a leg taken off — $4,585 is sitting on every meaningful support at once
A 4% intraday drop into the European afternoon has parked gold at 4,584.90, $5 above weekly S2 and $23 above daily S1, with 4h and 15m RSI both sub-30. The macro alibi is hostile: DXY firm at 98.67, the 10y up 6bp to 4.35%, and a Strait-of-Hormuz oil shock that is *bearish* for gold via the inflation-keeps-the-Fed-hawkish channel. Managed money is still long…