M30 timeframe – Sept 4th, 2026
GOLD UPDATED Sept 4th, 2026
– After completing a strong bullish move from 4282-4285 to 4509-4520, Gold formed a short-term Swing High and began facing profit-taking pressure.
– Price is currently correcting from the top and has broken below the 0.236 Fibonacci level at 4456-4457. This indicates weakening short-term buying momentum and suggests that the correction may extend further.
➡️ However, the overall bullish structure on M30 has not been completely broken yet.
✅ During today’s session, I expect price to continue correcting toward 4420-4415
➡️This is a key reaction zone due to the confluence of:
🔻The 0.382 Fibonacci Retracement at 4423
🔻A previous resistance and market structure zone that was broken
🔻The consolidation area formed before the bullish expansion toward 4509
➡️ If price reaches 4420-4415 and shows clear buying pressure-such as long lower wicks, strong rejection, or a bullish structure shift on the lower timeframes-this zone could remain solid support. Price may then recover toward 4456-4460, followed by 4480 and the previous high at 4509-4520.
➡️Conversely, if price breaks strongly below 4415 and closes an M30 candle beneath this zone, it would indicate that the support has failed. The correction could then extend toward 4396-4390, corresponding with the 0.5 Fibonacci level, followed by 4370-4365, where the 0.618 Fibonacci level aligns with the previous demand zone.
➡️ In summary, 4420-4415 is the key zone that will determine the next direction. We will not rush to Buy or Sell here. Instead, we will observe whether price holds this support and recovers or breaks through it and continues correcting. I will update the next scenario once the market provides confirmation.