Jun. 29 at 1:40 PM
$GOLD is stalling right into the 4040 to 4050 zone, and price is starting to look more like distribution than breakout continuation in the short term.
Key area is clear. If 4040 to 4050 keeps rejecting multiple attempts, momentum can fade fast and price rotation back below 4000 becomes a real risk scenario, especially if buyers fail to defend dips.
On the flip side, if gold can reclaim and hold above 4040 with strength, then a short squeeze type move toward 4080 to 4100 is still on the table.
Right now it is a patience zone, not a chase zone. Let the market show acceptance or rejection first.
Anyone seeing breakout confirmation here or still leaning downside fade into resistance?
