**GC Notes from Recent High Frame Price Action 5/21-5/22**Gold Futures (Jun 2026)COMEX:GCM2026EthicalxTrader**GC Notes from Recent High Frame Price Action 5/21-5/22** * GC continues chopping inside a very volatile consolidation range after the aggressive selloff from the recent highs. * Price attempted another bounce today off the: * **4,458 – 4,495** support region. * The major issue for bulls right now is that every bounce continues getting rejected underneath: * **4,572** * And especially **4,607 – 4,639** * The larger structure still resembles a weak bear flag and consolidation underneath broken trend support. * The prior rising trendline has now fully broken and is acting as overhead resistance rather than support. Overall structure currently resembles bearish consolidation and rotational price action beneath broken higher timeframe support. **Levels I’ve been tracking** * **4,813**: Major upside target * **4,734**: Larger resistance zone * **4,639.1**: Major higher timeframe resistance * **4,607.9**: Key breakout trigger * **4,572.4**: Major near-term resistance * **4,548**: First resistance * **4,518**: First support * **4,495**: Key support shelf * **4,483**: Breakdown trigger * **4,458.9**: Major support zone * **4,400**: Larger downside target * **4,269**: Major higher timeframe support **Volume and behavior notes** * Volume remains elevated compared to earlier months, which confirms the market is still in a very high volatility environment. * The overall trend short term remains weak while price stays beneath: * **4,607** * And especially * **4,639** * The repeated failures near resistance suggest sellers are still controlling momentum overall despite the sharp intraday reversals. * Bulls need a clean reclaim of the upper consolidation range to invalidate the current bearish consolidation structure. * Current price action continues resembling: * Weak bear flag behavior * Rotational consolidation * Failed recovery attempts beneath resistance * The broken rising trendline continues acting as overhead pressure instead of support. * Holding beneath **4,607 → 4,639** keeps the broader bearish consolidation structure intact. * A confirmed reclaim through **4,607 → 4,639** likely opens continuation toward: * **4,734** * **4,813** * Potentially higher recovery continuation if momentum expands further **Overall read from my notes** GC is still trading inside a very unstable consolidation structure after the major selloff from highs. Right now the market is essentially trapped between: * Major support around **4,458 – 4,495** and * Heavy resistance around **4,607 – 4,639** Until one side decisively breaks, this likely continues behaving as a high-volatility rotational market. Short term momentum still slightly favors the bears while price remains beneath: * **4,607** and especially: * **4,639**.