On the 1H timeframe, Gold appears to be transitioning from an impulsive downside leg into a corrective recovery phase. The recent structure suggests wave (1) has completed, and price is now developing a wave (2) correction.
Structural Overview
Following the breakdown from the 5,100 region, price respected the ascending trendline before losing momentum and rolling over impulsively. The decline into the 4,900s looks like a completed five-wave sequence, which supports the idea that we are now seeing a corrective A–B–C rebound.
The key retracement cluster sits at:
0.382 retracement
0.618 retracement near 5,020–5,050
Major resistance around 5,108 (invalidation level)
The 0.618 region stands out as the ideal wave (2) termination zone if this structure is to remain bearish.
Primary Scenario
If the current bounce completes as wave (2), we should expect renewed downside momentum in wave (3). A break lower from resistance would likely accelerate selling pressure, with downside extension targeting the 1.618 projection near 4,660.
Wave (3) moves typically unfold with strong momentum, so acceptance below recent lows would confirm continuation.
Invalidation
A sustained break above 5,108 would invalidate the current bearish count and suggest that the correction is more complex — or that a broader bullish structure is unfolding instead.
Bottom Line
Gold is attempting a corrective push higher, but unless price decisively reclaims the 5,100 area, the broader bias favors downside continuation. The reaction at the 0.382–0.618 retracement band will likely determine the next directional impulse.
Structural Overview
Following the breakdown from the 5,100 region, price respected the ascending trendline before losing momentum and rolling over impulsively. The decline into the 4,900s looks like a completed five-wave sequence, which supports the idea that we are now seeing a corrective A–B–C rebound.
The key retracement cluster sits at:
0.382 retracement
0.618 retracement near 5,020–5,050
Major resistance around 5,108 (invalidation level)
The 0.618 region stands out as the ideal wave (2) termination zone if this structure is to remain bearish.
Primary Scenario
If the current bounce completes as wave (2), we should expect renewed downside momentum in wave (3). A break lower from resistance would likely accelerate selling pressure, with downside extension targeting the 1.618 projection near 4,660.
Wave (3) moves typically unfold with strong momentum, so acceptance below recent lows would confirm continuation.
Invalidation
A sustained break above 5,108 would invalidate the current bearish count and suggest that the correction is more complex — or that a broader bullish structure is unfolding instead.
Bottom Line
Gold is attempting a corrective push higher, but unless price decisively reclaims the 5,100 area, the broader bias favors downside continuation. The reaction at the 0.382–0.618 retracement band will likely determine the next directional impulse.
การนำเสนอที่เกี่ยวข้อง
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน
การนำเสนอที่เกี่ยวข้อง
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน