Expect price from 3,590 to correct down to around 3,520

1. Price Structure

Previous trend: Gold has been in a strong uptrend since late August, consistently forming higher highs and higher lows.

Currently, price has reached the upper channel resistance (red trendline) and is showing a small double-top pattern, signaling potential weakness.

2. Fibonacci & Support Levels

Fibonacci retracement drawn from 3,268 → 3,590.

Key levels:

0.786 = 3,510 (aligned with lower trendline → strong support).

0.618 = 3,460 → medium-term support.

0.382 = 3,380 → if broken, short-term bullish structure weakens.

3. Patterns & Technical Signals

The chart indicates a blue arrow: expectation of a pullback from 3,590 toward around 3,520 (grey trendline + 0.786 Fibo).

If price holds above 3,510 → potential rebound to continue the uptrend.

If 3,510 breaks → deeper correction likely toward 3,460 – 3,420.

4. Trading Scenarios

Scenario 1 (preferred):
Short-term sell from 3,590 → 3,520.
TP: 3,520 – 3,510, SL above 3,600.

Scenario 2:
If 3,510 – 3,520 holds strong → consider long entries in line with the main trend.
TP: 3,590 → 3,620, SL below 3,490.

👉 Summary: Gold is showing short-term weakness after a sharp rally, likely to correct toward 3,510 – 3,520 before the next move becomes clearer.