Gold Back Above $4,000 — Is $4,054 Next?
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Gold went through strong volatility around the U.S. elections, but buyers eventually pushed price back above the psychological $4,000 level.
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Now $XAU is holding above the Heavy Support Zone ($3,887-$4,007) and approaching the PRZ ($3,999-$4,020).
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From an Elliott Wave perspective, I believe Wave 4 may still extend toward $4,000 before the next bullish move begins.
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If buyers defend this area, I expect Gold to push toward $4,054 and test the nearby Resistance Lines.
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Trade Setup
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TP: $4,054
SL: $3,971
Key Level: $4,025
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For me, $4,000 is the key area now.
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Which comes first?
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🟢 $4,054
🔴 $3,971
⠀
#GOLD
⠀
Gold went through strong volatility around the U.S. elections, but buyers eventually pushed price back above the psychological $4,000 level.
⠀
Now $XAU is holding above the Heavy Support Zone ($3,887-$4,007) and approaching the PRZ ($3,999-$4,020).
⠀
From an Elliott Wave perspective, I believe Wave 4 may still extend toward $4,000 before the next bullish move begins.
⠀
If buyers defend this area, I expect Gold to push toward $4,054 and test the nearby Resistance Lines.
⠀
Trade Setup
⠀
TP: $4,054
SL: $3,971
Key Level: $4,025
⠀
For me, $4,000 is the key area now.
⠀
Which comes first?
⠀
🟢 $4,054
🔴 $3,971
⠀
#GOLD
