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Gold Spot / U.S. Dollar
Long

Gold Bull Run: Wave 5 on the Way!

65

Elliott Wave Setup – We're in Wave 5, riding a powerful upward channel from the recent Wave 4 low, aiming for ~$3,500–3,600

Key Resistance & Breakout – The $3,497–3,500 area is critical. A clean breakout above this could open the next leg toward ~$3,600–3,700, echoing forecasts from ANZ and Cantor .

*Support Level – Immediate support lies around the $3,392 area (recent resistance turned support). A dip back to $3,420–3,440 could provide a strong buying opportunity.

*Macro Drivers – Geopolitical tensions (especially in the Middle East) and a soft U.S. dollar are fueling safe-haven buying, matching broader bullish sentiment

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📈 Outlook: Minor pullback expected, then resumption of rally. Breakout above $3,500 could trigger the next surge.
🛡️ Strategy Tip: Consider buying on dips around $3,420–3,450 with resistance-based stop-loss and targets at $3,500 then $3,600–3,700.

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Chart PatternsgoldlonggoldpredictionTechnical IndicatorsTrend AnalysisusdtrylongXAUUSDxauusdanalysisxauusdlongxauusdshortxauusdsignal
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Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.