Primary Scenario
According to our primary scenario, gold futures completed a corrective rally with the last significant peak at the beginning of March. Since then, price has entered a downward impulse, with a counter-move currently unfolding that could extend up to resistance at $4854. After that, further sell-offs into our green Target Zone ($3876–$3335) are likely, where a larger downward move should ultimately come to an end. After this major low, we expect a more pronounced move to the upside.
Alternative Scenario
In our alternative scenario, gold futures would break above resistance at $4854 to establish a new corrective high (probability: 30%). In this case, price would turn lower later—but still remain below the $5626 level.
According to our primary scenario, gold futures completed a corrective rally with the last significant peak at the beginning of March. Since then, price has entered a downward impulse, with a counter-move currently unfolding that could extend up to resistance at $4854. After that, further sell-offs into our green Target Zone ($3876–$3335) are likely, where a larger downward move should ultimately come to an end. After this major low, we expect a more pronounced move to the upside.
Alternative Scenario
In our alternative scenario, gold futures would break above resistance at $4854 to establish a new corrective high (probability: 30%). In this case, price would turn lower later—but still remain below the $5626 level.
📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
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🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
Related publications
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.
📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
Related publications
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.