Gold Analysis - Upside Reversal Unfolding?

Why It Matters

Gold’s ability to hold key support levels will influence safe‑haven demand amid rising inflation, affecting portfolios and market sentiment.

Key Takeaways

• Gold briefly fell below Monday low, then reclaimed main support
• Move seen as liquidity grab, possibly wave‑two pullback
• CPI inflation hotter than expected, sparked modest market volatility
• Bulls must defend intraday low at $4,645 to enable third wave
• Next resistance target sits near $4,777, indicating upside potential

Summary

The video provides a technical analysis of gold, focusing on today’s price action that briefly slipped below Monday’s low before retaking the primary support zone around $4,645. The analyst frames the dip as a liquidity grab and questions whether it represents a smaller‑degree or larger‑degree wave‑two correction within the broader Elliott Wave framework.

Key data points include a modest reaction to hotter‑than‑expected CPI inflation, which introduced limited volatility but did not derail the overall bullish bias. The chart now points toward the next resistance level near $4,777, with the analyst emphasizing that defending the intraday low is crucial for initiating a third‑wave rally.

A notable quote from the commentary: “It is important now that the bulls defend this intraday low at 4,645 to keep the door open for a third wave.” The discussion also highlights a micro‑support zone that could guide the structure of any corrective pullback within the anticipated third wave.

If the bulls hold the support, gold could resume an upward trajectory toward the $4,777 resistance, offering upside for traders and investors monitoring inflation‑linked safe‑haven assets. Conversely, a breach could signal deeper corrective momentum, reshaping short‑term market sentiment.

Original Description

This video provides a professional Elliott Wave and technical analysis of the gold market, focusing on the current price structure, support and resistance zones, and possible mid- to long-term scenarios. The goal is to help viewers understand where gold stands in the larger market context — from short-term setups to long-term structural insights.

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