Bulls have done an excellent job establishing clear support at the psychological 4000 price point. Despite multiple breaches, bears have been unable to close a body beneath 4000.
The market is still always in short, however there are significant tails beneath most bars. Bears want to break this 4000 support and assert total dominance in continuing the correction of the historic parabolic bull run. World events and market conditions are still similar to the conditions that caused the initial parabolic bull trend. Bears continue to struggle despite having the upper hand since late April.\u00a0 Thus we have been sideways for the past 5 weeks.<\/p>\n\n\n\n
The Weekly<\/em> Gold chart<\/h3>\n\n\n\n![\"Gold](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/07\/Gold-GC-mini-Weekly-Bulls-Determined-Despite-Many-Red-Bars-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- Sideways for the past 5 weeks.\u00a0<\/li>\n\n\n\n
- Large tails beneath most of the recent weekly bars, revealing bullish fighting power.<\/li>\n\n\n\n
- This week’s bar closed below the 50% mark of its range. A good sign for the bears.<\/li>\n\n\n\n
- Bears unable to close the body beneath the previous week\u2019s bull body low.\u00a0A good sign for bulls.<\/li>\n\n\n\n
- Bears are able to maintain a large gap between price and the moving average.\u00a0<\/li>\n\n\n\n
- 9 of the past 12 bars are bearish.<\/li>\n\n\n\n
- Bears want to strongly close a body beneath the psychological 4000 mark.<\/li>\n\n\n\n
- Bulls want to close a bar (ideally consecutive bars) above the moving average.<\/li>\n\n\n\n
- Bulls are succeeding at creating a clear level of support over the past 5 weeks.\u00a0<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> Gold chart<\/h3>\n\n\n\n![\"Gold](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/07\/Gold-GC-mini-Daily-Breakout-Pressure-is-Building-680x383.jpg\" "\\"\\"")
<\/figure>\n\n\n\n<\/div>\n\n\n\n\n- 4 of 5 bars were bearish.<\/li>\n\n\n\n
- Triangle pattern forming. Triangles are breakout patterns.\u00a0<\/li>\n\n\n\n
- Possible that Bulls are retesting the previous triangle breakout.\u00a0<\/li>\n\n\n\n
- Friday was an inside bar closing above the 50% mark of its range.<\/li>\n\n\n\n
- Buyers were waiting beneath the body of Thursday\u2019s bar.<\/li>\n\n\n\n
- Bulls trying to convert the bear channel into a sideways trading range.\u00a0<\/li>\n\n\n\n
- Large body gap between Tuesday and\u00a0 Wednesday. This downside gap was never entirely filled. A good sign for the bears.\u00a0<\/li>\n\n\n\n
- Bears sold the moving average both Monday and Tuesday.<\/li>\n\n\n\n
- Despite 4 of bars being bearish, there are lots of overlapping bars, a signature of a trading range market.\u00a0<\/li>\n\n\n\n
- Price has been ranging in between just beneath 4000 and 4200 for the past 16 sessions.<\/li>\n\n\n\n
- Bulls determination and fighting power evidenced in the large tails beneath all 4 bear bars. The single bull bar was strong with a large body closing near its high.<\/li>\n\n\n\n
- Bulls want to form an inverse head and shoulders pattern, sending price back up to the previous upper neckline at the 4400 area.\u00a0<\/li>\n\n\n\n
- Bears want to use the most recent selling of the moving average to put in another leg comparable to the previous leg. The previous leg was also started by selling the moving average on June 17th.\u00a0<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n
- \n
- Sideways for the past 5 weeks.\u00a0<\/li>\n\n\n\n
- Large tails beneath most of the recent weekly bars, revealing bullish fighting power.<\/li>\n\n\n\n
- This week’s bar closed below the 50% mark of its range. A good sign for the bears.<\/li>\n\n\n\n
- Bears unable to close the body beneath the previous week\u2019s bull body low.\u00a0A good sign for bulls.<\/li>\n\n\n\n
- Bears are able to maintain a large gap between price and the moving average.\u00a0<\/li>\n\n\n\n
- 9 of the past 12 bars are bearish.<\/li>\n\n\n\n
- Bears want to strongly close a body beneath the psychological 4000 mark.<\/li>\n\n\n\n
- Bulls want to close a bar (ideally consecutive bars) above the moving average.<\/li>\n\n\n\n
- Bulls are succeeding at creating a clear level of support over the past 5 weeks.\u00a0<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> Gold chart<\/h3>\n\n\n\n
<\/figure>\n\n\n\n<\/div>\n\n\n\n- \n
- 4 of 5 bars were bearish.<\/li>\n\n\n\n
- Triangle pattern forming. Triangles are breakout patterns.\u00a0<\/li>\n\n\n\n
- Possible that Bulls are retesting the previous triangle breakout.\u00a0<\/li>\n\n\n\n
- Friday was an inside bar closing above the 50% mark of its range.<\/li>\n\n\n\n
- Buyers were waiting beneath the body of Thursday\u2019s bar.<\/li>\n\n\n\n
- Bulls trying to convert the bear channel into a sideways trading range.\u00a0<\/li>\n\n\n\n
- Large body gap between Tuesday and\u00a0 Wednesday. This downside gap was never entirely filled. A good sign for the bears.\u00a0<\/li>\n\n\n\n
- Bears sold the moving average both Monday and Tuesday.<\/li>\n\n\n\n
- Despite 4 of bars being bearish, there are lots of overlapping bars, a signature of a trading range market.\u00a0<\/li>\n\n\n\n
- Price has been ranging in between just beneath 4000 and 4200 for the past 16 sessions.<\/li>\n\n\n\n
- Bulls determination and fighting power evidenced in the large tails beneath all 4 bear bars. The single bull bar was strong with a large body closing near its high.<\/li>\n\n\n\n
- Bulls want to form an inverse head and shoulders pattern, sending price back up to the previous upper neckline at the 4400 area.\u00a0<\/li>\n\n\n\n
- Bears want to use the most recent selling of the moving average to put in another leg comparable to the previous leg. The previous leg was also started by selling the moving average on June 17th.\u00a0<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n