GOLD – Completing Wave (5) and Preparing for a Larger ABC Retrac

Price action continues to respect the impulsive downside structure. Based on the internal wave count, it looks like we are finishing the final leg of Wave (5). The subwaves are clean, momentum is weakening, and structure is tightening inside a wedge—typical behavior at the end of an impulsive sequence.

Once Wave (5) completes, I expect a corrective A-B-C retracement to unfold.
Key expectations:

🔵 Wave Structure Outlook

Wave (4) has already topped inside the falling trendline

Wave (5) likely completes near the 0% zone

A corrective bounce should follow into:

A → around 4080

B → re-test of lower support

C → potential extension towards the 0.382–0.618 retracement (4082–4143)

⚠️ Bigger Picture

Even if the ABC correction plays out, the macro trend remains strongly bearish, and the dominant descending trendline continues to cap all rallies.
After the corrective structure completes, I expect another major move down following the thick black trendline.

🎯 Levels to Watch

Support: 3983

Short-term resistance: 4044, 4082, 4113, 4143