■ First: technical analysis

✔ General trends:
• It clearly falls on the hourly frame.
• The price is trading below very strong resistance at 4080-4085.
• The downtrend channel remains contained and has not been broken.

✔ IMPORTANT NOTE:
• Every attempt to rise ends in a rapid decline → This means sellers are still in control.

⸻

■ Second: Elliott Wave Analysis

A wave pattern refers to:

✔ Gold within the wave:

C is falling

From the ABC model.

Wave C is not over yet, its main targets are in the following areas:

🎯 4035 – 4010

Then a strong rebound wave begins (new wave 1).

⸻

■ Third: Time period analysis
• Downside time period begins on November 13th.
• The expected end of the time period is:

⏳ November 15th – 16th – 17th

These areas are expected to form “mini weekly bottoms.”

⸻

■ Fourth: Fibonacci numerical analysis
• 0.618 at: 4048
• 0.786 at: 4015
→ Very high retracement area.

⸻

■ Fifth: Fundamental Analysis

Current factors:
• The U.S. dollar strengthened.
• The Fed is leaning toward tightening policy.
• There is currently no global panic driving gold prices higher.

but:
Gold stabilizes above 4000 = buyers are still considering it.

⸻

■ Sixth: Price Action
• The last candlestick is narrow and shows clustering within the channel.
• No trend break has occurred so far.
• Small rebound…but no significant buying power.

⸻

■ Seventh: Support and Resistance Levels

🟢Support:
1.4060
2.4045
3. 4030 – 4010 (strongest support)

🔴Resistor:
1.4085
2.4105
3. 4140 – 4200 display area

⸻

■ Eighth: Smart Supply and Demand Zone

🟢Requirements:
• 4045 – 4030
• 4030 – 4010 (Main Retracement Area)

🔴Discount:
• 4085 – 4100
• Large sales area 4140 – 4200

⸻

■ Ninth: Harmonics

Model:

✔ Bullish on BAT (in progress)

Ideal reflective area:

🎯 4025 – 4010

⸻

■ 10th place: Digital model – FVG

The higher price gap is still waiting to close:
• 4090
• 4120
• 4170

Prices usually return to the closing price after ending their decline.

⸻

■ Area 11: Pivot Area

Key areas today:

4075 – 4085

If price is below it = fall
Price above it = bullish reversal

Now the price is below it → means a downtrend.

⸻

🎯Final conclusion + recommendation

✔ Current Trends:

Bearish inside the bearish channel
No damage yet.

✔ Expected scenarios:

🔻The strongest scene:

Falling direction:

4045 → 4030 → 4010

Start rebounding from 4010-4030.

🔼Alternatives:

If 4085 is broken by a one hour candle → the decline ends and starts the rise to 4105 – 4120

⸻

💎 Technical advice (non-financial advice)

❌ Currently there are no purchases from 4070

Because the price is within the channel and unconfirmed.

✔ Best Buy:

4035 – 4010

First target: 4080
Second target: 4120

✔Best Selling:

4085 – 4100

Target: 4045

⸻
Important tips
We do not provide you with financial and investment advice
Instead, we provide you with scientific and educational content
You are the only one responsible for pressing the buy and sell buttons

analyst
Engineer Ihab
Saeed Al Sahab Channel

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