Gold Elliott Wave Analysis

Gold Elliott Wave Forecast – Updated Structure

Gold has now confirmed a clean breakout from the contracting triangle, completing the B wave of the ongoing corrective structure. This development reinforces the broader Gold Elliott Wave Analysis outlook, suggesting that price is preparing for a C-wave advance aimed toward the upper Fibonacci resistance zone.

The recent consolidation printed a well-defined triangle, a formation commonly seen in the position of a B wave. The breakout aligns with this behaviour and supports the continuation of the correction.

Technical Breakdown

• Triangle confirmed as Wave B: Recent consolidation pattern resolved cleanly as a B-wave triangle—a classic corrective feature.
• Breakout supports bullish bias: Price action confirms alignment with the larger Elliott Wave scenario.
• Subwave subdivisions: Internal structure remains in harmony with the working wave count.
• Corrective channel intact: Gold continues to respect boundaries of the projected corrective channel.
• Wave (2) development ongoing: Structural evidence supports that Wave (2) is still incomplete.

C-Wave Upside Targets

The expected next phase is a C-wave rally, aiming toward a high-probability Fibonacci confluence zone before the corrective pattern resolves:

This zone offers the most likely completion area for Wave (2) before resumption of the dominant trend.

Outlook & Expectations

• Momentum watch: A sustained breakout suggests the C wave may gather strength toward the Fibonacci target zone.
• Validation level: The bullish scenario holds as long as price remains above the B-wave triangle low.
• Bigger picture: When Wave (2) completes, expect the higher timeframe downtrend to resume according to the master wave count.

Alternate Count