Gold Post-PCE: Initial Absorption, Failed Recovery and a Key 4H Gold FuturesCOMEX_DL:GC1!Astronaut-bullGC1! 🟡 The first reaction to a macro release is not always the most informative. July’s US PCE Price Index rose 3.7% year-on-year, while core PCE came in at 3.3%. Gold initially sold off, but the subsequent price and Order Flow sequence provided a more complete picture. On the 4H chart, COMEX Gold had already broken its multi-month descending channel. After extending into the 4,700–4,750 supply area, price began retesting previously reclaimed resistance. 🔎 Order Flow sequence The 14:30 candle on the December COMEX contract recorded: • Volume: 5.1K contracts • Delta: −173 • Open: 4,686.5 • Close: 4,677.5 Selling initially achieved follow-through. Around 15:15, however, a bullish candle printed 5.2K contracts with a Delta of −597. Aggressive sellers continued hitting the Bid, yet price could no longer move lower. This indicated local absorption, subsequently confirmed by the rebound. The decisive information came next: buyers failed to convert that absorption into sustained acceptance at higher prices. A second selling sequence then printed: • Delta −324 on 3.8K volume • Delta −524 on 6.8K volume — the largest volume in the sequence • A break below the weekly open and prior-day low • Lower value developing around the 4,653 VPOC ⚖️ Multi-timeframe picture Intraday, sellers remain in control and value is migrating lower. On the 4H timeframe, however, the broader breakout remains structurally valid while the 4,625–4,632 area holds. 📍 Scenario map • Acceptance below 4,625–4,632 would expose 4,584 • Sustained trade below 4,584 would increase the probability of a breakout failure • Losing 4,518 would materially compromise the broader bullish structure • Reclaiming 4,653 and the lost intraday references would be the first sign of easing selling pressure • Renewed acceptance above 4,700–4,750 would restore bullish continuation The useful question is not simply why Gold fell after the PCE release. It is whether the market can build acceptance below former resistance — or whether this pull this pullback will ultimately be rejected. The chart shows COMEX:GC1! on the 4H timeframe. Order Flow data refers to the December 2026 COMEX contract, GCZ6. Scenario-based analysis, not a trade signal. Macro data: U.S. Bureau of Economic Analysis.