Gold, Wed 28 Oct (FOMC day): R1 4068 is the battle pointGold - CashCMCMARKETS:GOLDRealMichaelNeoTHROUGH THE NIGHT · Wednesday 28 October · FOMC day Fresh levels for Wednesday (from Tuesday's high, low and close): R3 4115 R2 4086 R1 4068 Pivot 4038 S1 4009 S2 3991 S3 3962 Where we left it Tuesday turned the week around. Buyers held the 3990 area and took price from 3989 to 4066, a $76 day, and gold closed at the high, at 4060. The night so far Price has held in a tight band just under R1. One push in Asia went through R1, but the close came back below it. Sellers are defending R1, and buyers are holding the dips around 4055. Where price sits Gold is at 4056, $12 under R1 and $18 above the pivot. Bias: Higher above the pivot. R1 is the battle point. • Break: if the H1 closes above R1 and the retest holds, the path is to R2 at 4086. That's $18 of room. • Reject: if R1 keeps turning price away, the path is back to the pivot at 4038. That's $30 of room. Today is FOMC day. The levels still map the move, but the timing rules are strict: • 12:30 UK Budget and 13:45 Bank of Canada can jolt the dollar. No entries in the minutes around them. • No new positions into the 18:00 decision. • After the 18:30 press conference, wait for the first H1 to close before trusting any level. Fed days often run one way, then turn. Day's width S1 to R1 is $59 and S3 to R3 is $153. That's a wider day than Monday, but on an FOMC day there are no S3/R3 first-touch plays. Let the Fed move first. Bigger picture The swing view still leans bearish below 4220, but Tuesday's $76 rally is the first real push back in two weeks. A close above R1 tonight would be worth respecting. Calendar (UK time) 01:00 RBNZ (out) 12:30 UK Budget 13:45 Bank of Canada 18:00 FOMC decision, 18:30 press conference Levels published before the move. Education, not advice.