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Gold prices opened with a strong bullish gap this morning
The price quickly surged to $4,550
This was followed by an apparent profit-taking operation.
The current price is close to $4,388
All of this happened before the New York session opened
➡️ This move clearly shows a short-term peak in a major uptrend.
🔍First: General technical reading (price action)
Overall Trend: Clearly Bullish
but:
The final sprint is fast and furious
It coincides with price reaching the upper Fibonacci resistance level
Price action suggests we are facing:
health correction
This is not a trend reversal
🔴Important resistance area
🔺 4550 – 4540
Morning rush hour
Psychological and artistic resistance
Cracking it requires:
America has strong momentum
There is a clear seal at the top
🔺 4485 – 4500
approaching resistance
Any rally without a breakout is likely to fail
🔺 4600 – 4700 (maximum resistance)
Fibonacci Extension 2.618 – 3.618
Unlikely today
🟢Basic support areas
1️⃣ 4380 – 4350
Currently supported
balance zone before new york
Holding above it = positivity
2️⃣ 4300 – 4270
Strong pivot support
You find:
Fibonacci 0.618
Retest previous fractures
A rebound is likely
3️⃣ 4218 – 4200
strategic support
Breaking it would only change the short-term outlook
4️⃣ 4120 – 4050
Support in the recent uptrend
unlikely to be reached today
🌊 Wave Interpretation (Elliott – Simplified)
Trends since early December show:
Strong driving wave (wave 5)
Peak at 4550:
This may be the end of the fifth sub-wave
What we see now:
ABC potential wave correction
in a larger uptrend
🎯 Target of wave correction:
Answer: 4350
B: 4450
Medium: 4280 – 4300
➡️This situation is very healthy and does not weaken the overall trend.
🇺🇸 Today’s New York session forecast
🔹The most likely (strongest) scenario:
Volatility+Correction
position:
4350
then try to bounce
🔹Alternatives:
Stable above 4380
Technical rebound to 4480
and then fluctuate occasionally
❌It is unlikely to directly and stably break through 4550 today
📆 Ending expectations at the end of 2025
Just the price:
Top 4200
and the top of the ascending channel
➡️Annual trends remain very positive
🎯 Weighted close range:
Between 4300 and 4450
and:
make profit
Reduce positions
Repositioning by 2026
⚠️Important Tips for Traders
✅ Don’t chase peaks
✅ Waiting for support area
✅ Reduce leverage
✅ Set stop loss
❌ Avoid buying during peak hours
❌Don’t enter with full liquidity
Today’s market is a professional market…there is no room for emotion.
✍️Conclusion
What happened this morning was peak time,
What we are seeing now is a natural correction within a strong uptrend.
The best opportunity is yet to come…
Patience is a wise decision.