The David Lin Report · Wednesday, July 15, 2026
Gary Wagner discusses gold's technical chart, noting a support level around $39.90-$4,000. He identifies $4,084 as a significant prior bottom and views the $4,000 level as primarily psychological, rather than purely technical. Wagner outlines upcoming resistance targets at $40.76-$40.80 and $41.80-$41.90.
“Okay, so let's go ahead and blow this up and then I'll blow, we'll condense it. But you've got a series of wigs. This is set right at about 4039.98.”
“So support and resistance are part of parcel the same thing. In other words, a break above about $4,000 would represent the potential, if it did it on a closing basis, and then started to either trade sideways or higher.”
“And that's what we've held 39.90 to 4000. And now we've broken through resistance. Now, we're not there yet, obviously. We've traded down to this area, but the next target should gold, um, actually enter a sustained rally that we need to overcome is at about $40.76, $40.80 and if that occurs, I believe it will, uh, then 41.80 to 41.90, just based on these two tops here, because when we blow this up, you can see we've had this series of lower highs, lower lows, till we hit this platform and here, we can make a case for either tower bottoms or tweezer bottoms, meaning you've got the last two days had a low that is significantly close to the lows of the low that first came in on June 24th.”