Gold Defends 4,300 After Sharp Dip as Range Holds Since the FedGoldOANDA:XAUUSDsamiwael98https://www.tradingview.com/chart/uBjAkw1a/Gold has spent the week since the Fed's rate hike trading inside a wide range between roughly 4,235 and 4,400. The Fed day set the boundaries. Price spiked to about 4,367 on the decision, then dropped to a low near 4,235 within hours. Buyers stepped in fast, and gold climbed back to the 4,400 area by September 18. Since then the structure has weakened. Gold has printed a series of lower highs, around 4,397, 4,383, 4,375 and 4,348, drawing a clear descending trendline across the chart. Today that pressure turned into a sharp flush to about 4,291, the lowest level since September 17. That dip didn't hold. Price snapped back roughly 40 dollars within a couple of candles, leaving a long lower wick under 4,300. That tells us buyers are still defending the round number, at least for now. The daily indicators show a market without a strong trend. RSI is at 47 and ADX is at 15, which points to weak trend strength. But price sits below the 10 and 20-day moving averages, with the 20-day SMA up near 4,390, so the bigger picture still leans heavy. The macro backdrop explains the tug of war. Fed officials have sounded increasingly hawkish since the meeting, and Treasury yields are near multi-year highs, which raises the cost of holding a metal that pays no interest. On the other side, safe-haven demand and steady central bank buying keep dips shallow. Chart Levels Resistance. 4,345 to 4,350 is today's breakdown zone and sits near the daily 10 EMA. Above that, 4,362 (daily 20 EMA), then the descending trendline around 4,375, then the range top at 4,400. Support. 4,290 to 4,300 is today's defended low. Below that sits the 4,260s, then the Fed-day low near 4,235. Scenarios Bullish case. A move back above 4,350 and a break of the lower-high trendline would suggest the range is holding, with 4,400 back in view. Bearish case. A clean break below 4,290 would undo today's rebound and put the 4,235 Fed-day low back in focus. Until one side breaks, this looks like a range with a downward tilt, where the 4,300 to 4,350 zone decides the next leg. Not financial advice. For educational purposes only.