💡After breaking the Support line, Gold managed to attack the Resistance lines with a Bullish Marubozu Candle.
🌊Regarding Elliott wave theory, Gold is completing a Zigzag Correction(ABC/5-3-5) so that Gold is currently completing the microwave 4 of the main wave C.
🔔I expect Gold to start rising again from the 🟡Potential Reversal Zone(PRZ)($2,045_$2,041)🟡 and the main wave C in the first target can finish near the upper Resistance lines and the 🔴Resistance zone($2,071_$2,054)🔴.
Gold Analyze ( XAUUSD ), 1-hour time frame ⏰.
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Trade active
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Trade closed: target reached
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Gold is trying to break the 🔴Resistance zone($2,071_$2,054)🔴