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General technical analysis
The overall trend remains upward within a clear ascending price channel (two blue lines).
But the current move is a correction in the uptrend after a strong rejection of the supply zone around 5400.
Current price:
• Rebound from strong demand area 5000 – 5050
• Back above the channel’s lower trendline
• It tries to target areas with higher liquidity.
Prices remaining above the uptrend means that the market is still in the consolidation phase of completing its advance.
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Elliott wave analysis
Most likely scenario:
main driving wave
1️⃣ Wave (1) rising
2️⃣Wave (2) depth correction
3️⃣Wave (3) rose strongly to the 5400 area
4️⃣ Wave (4) is currently corrected towards 5000
5️⃣ The expected target of wave (5):
5350 → 5500
As long as the price does not break 4980, the fifth wave is still possible.
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time analysis
Gold is currently in a correction time cycle, lasting approximately:
Four hours 5-7 candles
Corrections usually end at:
March 10-12
This usually occurs at the same time as:
• Opening of New York conference
• Or economic news.
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Numerical Analysis (Fibonacci)
The current fix is close to:
61.8% Fibonacci of the last bull market.
This is a classic correction expiry level.
Numerical goals:
• 5230
• 5320
• 5480
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price action
Positive signs:
✔ Strong rebound in demand
✔ Lower rejection candles
✔ Successful retest of uptrend
✔ High and low poses
Signals we are observing:
Breakthrough 5200 – 5220
This opens the way to areas with higher liquidity.
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display area
The clear sales area in the picture:
🔴5300 – 5350
🔴5400 – 5480
These are areas of institutional liquidity.
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demand area
Areas with the strongest demand currently:
🟢 5000 – 5050
🟢 5080 – 5100
This area is where the uptrend resumes.
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support and resistance levels
support:
• 5100
• 5050
• 5000 (very strong support)
Resistor:
• 5220
• 5320
• 5400
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Axial area
Current market focus areas:
5180 – 5200
above → rise
Below → Return to correct.
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stable point
Rising stability point:
5100
Breaking it could send the price back:
5000
As for stabilization above it, it supports continued rise.
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Expected scenario
Most likely scenario:
Gradually rise to:
5230 → 5300 → 5400
But after a simple zone retest:
5150 – 5120
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Closest recommendation (analysis, not investment advice)
5150-5160
Stop loss should be lower than 5150 points when buying
Target:
🎯5200
🎯5230
🎯5260
5300
