Gold Elliott Wave Analysis
Gold Elliott Wave Forecast – Updated Structure
Gold has now confirmed a clean breakout from the contracting triangle, completing the B wave of the ongoing corrective structure. This development reinforces the broader Gold Elliott Wave Analysis outlook, suggesting that price is preparing for a C-wave advance aimed toward the upper Fibonacci resistance zone.
The recent consolidation printed a well-defined triangle, a formation commonly seen in the position of a B wave. The breakout aligns with this behaviour and supports the continuation of the correction.
Technical Breakdown
- Triangle confirmed as Wave B: Recent consolidation pattern resolved cleanly as a B-wave triangle—a classic corrective feature.
- Breakout supports bullish bias: Price action confirms alignment with the larger Elliott Wave scenario.
- Subwave subdivisions: Internal structure remains in harmony with the working wave count.
- Corrective channel intact: Gold continues to respect boundaries of the projected corrective channel.
- Wave (2) development ongoing: Structural evidence supports that Wave (2) is still incomplete.
C-Wave Upside Targets
The expected next phase is a C-wave rally, aiming toward a high-probability Fibonacci confluence zone before the corrective pattern resolves:
| Retracement Level | Target Price |
|---|---|
| 0.618 Fib | 4,153 |
| 0.764 Fib | 4,188 |
| Target Region | 4,140–4,180 |
This zone offers the most likely completion area for Wave (2) before resumption of the dominant trend.
Outlook & Expectations
- Momentum watch: A sustained breakout suggests the C wave may gather strength toward the Fibonacci target zone.
- Validation level: The bullish scenario holds as long as price remains above the B-wave triangle low.
- Bigger picture: When Wave (2) completes, expect the higher timeframe downtrend to resume according to the master wave count.
Alternate Count
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