Gold Elliott Wave: Forecasting The Rally From Equal Legs Area
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GOLD Elliott Wave 1 Hour Chart 03.10.2025
The current view suggests XAUUSD has completed a 5-waves pattern in the cycle from the 2832.2 low. GOLD is now forming a wave ((ii)) black correction. The price shows an incomplete sequence in the decline from the peak. This suggests more short-term weakness. We expect an extension toward the extreme zone at 2889.59–2871.89. At that zone buyers should re-enter, which could lead to a further rally. We recommend that members avoid selling gold.
GOLD Elliott Wave 1 Hour Chart 03.04.2025
The commodity made another leg down toward the Equal Legs area and found buyers, as expected. XAUUSD is now showing a solid rally from the buying zone. The price has broken to new highs. This confirms further upward extension, provided the pivot at the 2832 low holds.
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