GOLD - Daily analysis🟡 Overall Structure
The chart shows a completed impulsive A-B-C corrective structure forming after a strong prior bullish rally. The key Fibonacci retracement zones are used to identify potential reversal and continuation levels.
Wave Interpretation
Wave A:
The initial decline from the top marks the start of correction.
It halted around 38.2% retracement (~4050–4065) where a temporary support was formed.
Wave B:
A counter-trend pullback toward 4200–4220 region is visible — this aligns with the 50% to 61.8% retracement of the A-leg, a common retracement level for corrective wave B.
Wave C (Expected):
The chart notes suggest that if price breaks below 4065, the decline will accelerate impulsively toward 3900, aligning with 61.8% retracement of the prior major upswing.
The final support for the full A-B-C correction could form around 3750, which is the C-wave completion zone and coincides with 78.6% retracement from the top.
Important Observations
Immediate Level to Watch:
A decisive break below 4065 will trigger an impulsive fall toward 3900, confirming C-wave progression.
Bullish Support Zone:
Around 4050–4080, price previously bounced — this area remains the last bullish defense.
Bearish Continuation Zone:
Below 4050, bearish acceleration expected toward 61.8% retracement (3900) and then 3750.
Volume Confirmation (not visible but implied):
The structure suggests momentum divergence on B-wave; lower highs indicate potential reversal strength building.
Wave Projection Summary
Wave Type Direction Target Remarks
A Corrective Down 4050 Completed
B Counter Up 4200 Likely completed or near
C Impulsive Down 3900 → 3750 Expected continuation
Conclusion
🔸 Gold’s current corrective phase appears to be in the B–C wave stage.
🔸 Trigger Zone: Fall below 4065 = confirmation of impulsive C-wave toward 3900.
🔸 Support Zones: 3900 (61.8%), 3750 (final 78.6%).
🔸 Invalidation: A move above 4230–4250 would negate the immediate bearish count and open retest of previous highs.
⚠️ Disclaimer
This analysis is for educational and informational purposes only and should not be considered as financial advice. Market conditions can change rapidly, and price movements may deviate from projections. Please conduct your own due diligence or consult a qualified financial advisor before making any trading or investment decisions. The author holds no responsibility for any losses incurred. Trade safely and manage risk responsibly.
