Gold: Reversal Is Near

The impulse move in appears to be complete. Several signals point to an imminent correction:

A five-wave structure is nearing its final leg
RSI is showing bearish divergence
Volume is surging at the top — a classic sign of distribution
The 3315–3350 zone is a risk area.
Expecting a pullback to 3200–3150, possibly deeper.

Trade active

New High or Double Zigzag?

The first leg of the decline from the local high has played out — a simple ABC corrective structure. Price is now testing the 3030–3040 resistance zone, which previously triggered a wave of selling. This area is crucial in the short term.

🔀 Two possible scenarios:

Bearish case: If sellers step in again around 3030–3040, we could see a deeper correction unfolding — possibly a double zigzag (WXY) or even an initial diagonal (cLD) structure.

Bullish case: If the zone is breached without strong resistance, a higher high is likely, signaling the continuation of the impulsive move.

At this stage, I’m leaning toward a deeper correction as the more probable scenario.

shakatrade1_618

🥷🏼 My Telegram
🇺🇸 t.me/shakatrade1_618
🇷🇺 t.me/shakatrade_ru

🍓 The best crypto exchange — Bingix! Click my referral link to activate your bonus! bingx.com/invite/D9E1B1/

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

shakatrade1_618

🥷🏼 My Telegram
🇺🇸 t.me/shakatrade1_618
🇷🇺 t.me/shakatrade_ru

🍓 The best crypto exchange — Bingix! Click my referral link to activate your bonus! bingx.com/invite/D9E1B1/

Also on: