Gold Breaks the 200 SMA: Is a PRZ Reversal Coming Next?
$XAUT has finally broken above the Descending Channel and the 200 SMA on the daily chart, confirming an important technical breakout.
However, price is now approaching the Potential Reversal Zone (PRZ) and the upper trendline of a potential Ascending Channel, where additional selling pressure could appear.
From an Elliott Wave perspective, gold appears to be completing main wave 5 inside the PRZ, suggesting that a corrective phase could begin soon. A decline from this area could also act as a pullback to retest the recently broken Descending Channel and the 200 SMA.
I expect gold to start declining from the PRZ and move at least toward $4,547.230.
🎯 Take Profit: $4,547.230
🛑 Stop Loss: $4,727.000
Key level to watch: $4,520
Do you think gold will start a correction from the PRZ?
NZDUSD Near a Major PRZ: Is a Bearish Reversal Starting?
NZDUSD is currently trading near the Resistance Zone, the Potential Reversal Zone (PRZ), and the Resistance Lines. Multiple technical signals are converging around this area, increasing the importance of the current resistance structure.
From an Elliott Wave perspective, NZDUSD appears to be completing Wave 5 of a Leading Diagonal. A Negative Regular Divergence is also visible between consecutive peaks, suggesting that bullish momentum may be weakening.
I expect NZDUSD to begin a bearish move soon and decline at least toward $0.5889. If bearish momentum strengthens, the decline could extend toward $0.5877.
NZDUSD Near a Major PRZ: Is a Bearish Reversal Starting?
NZDUSD is currently trading near the Resistance Zone, the Potential Reversal Zone (PRZ), and the Resistance Lines. Multiple technical signals are converging around this area, increasing the importance of the current resistance structure.
From an Elliott Wave perspective, NZDUSD appears to be completing Wave 5 of a Leading Diagonal. A Negative Regular Divergence is also visible between consecutive peaks, suggesting that bullish momentum may be weakening.
I expect NZDUSD to begin a bearish move soon and decline at least toward $0.5889. If bearish momentum strengthens, the decline could extend toward $0.5877.
Gold Rejects Key Moving Averages: Is a Deeper Correction?
$XAU has successfully broken below the Support Lines and recently tested the 100 SMA on the daily chart and the 21 SMA on the weekly chart. Price failed to break above these key moving averages and has started declining with strong bearish momentum.
From an Elliott Wave perspective, gold appears to have completed its Primary Wave 5, suggesting that a broader corrective phase to the downside may now be beginning. The rejection from the moving averages combined with the breakdown of the Support Lines further supports the bearish scenario.
I expect #GOLD to decline at least toward $4,341. If bearish momentum increases, the correction could extend toward $4,320 and $4,299.
🎯 First Target: $4,341
🎯 Second Target: $4,320
🎯 Third Target: $4,299
🛑 Stop Loss: $4,410 (Worst case)
Key level to watch: $4,342 Full Which level do you think gold will reach first?
S&P 500 at a Major PRZ: New ATH or Deeper Correction?
The S&P 500 rallied after the probability of a U.S.–Iran agreement increased, allowing the index to print a new All-Time High. However, the rally over the past week has been accompanied by relatively low trading volume, which may indicate weakening bullish momentum.
Improving expectations around a potential U.S.–Iran deal supported risk sentiment and helped U.S. stock indices move higher. The lack of strong volume, though, raises concerns about whether buyers have enough strength to sustain the trend.
Technically, the S&P 500 has reacted to the Potential Reversal Zone (PRZ) and started moving lower. From an Elliott Wave perspective, the index appears to have completed, or is very close to completing, its main wave 5.
I expect the S&P 500 to decline toward the key level of $7,637. If bearish momentum increases, the index could break below the Support Zone and eventually fill the lower gap.
🎯 First Target: $7,637
🎯 Second Target: $7,614
🛑 Stop Loss: $7,804
Which level do you think the S&P 500 will reach first?
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⬇️Although $XAU reacted strongly to the Potential Reversal Zone (PRZ), it failed to break below the key support lines. The price then began to rise, broke out of the descending channel, and now appears to have also broken above the upper boundary of the Symmetrical Triangle.
Gold Tests a Major Reversal Zone — Breakout or Another Rejection?
$XAUT is trading at a critical technical confluence, testing the Resistance Zone, the Potential Reversal Zone (PRZ), and the upper boundary of the Descending Channel.
With multiple resistance factors aligning in the same area, this could become a decisive turning point for Gold.
Can Gold finally break above the Descending Channel, or is another bearish move approaching?
Technical Analysis
From an Elliott Wave perspective, Gold appears to be completing Wave B, with the correction developing as a Double Three (W-X-Y). This suggests the current recovery may be a counter-trend move rather than the beginning of a sustained bullish trend.
💡 Educational Note:
Wave B is often one of the most deceptive phases in Elliott Wave Theory. It can temporarily convince traders that a new uptrend has started before the broader correction resumes.
Trade Setup
As long as Gold remains below the current resistance cluster, I expect sellers to regain control.
🎯 Target 1: $4,056
🎯 Target 2: $4,043
🛑 Stop Loss: $4,118
📍Key Trading Levels
Resistance: $4,067 Pivot: $4,050 Support: $4,030
⚠️ Macro Watch: One of the key drivers behind Gold's recent recovery has been optimism surrounding a potential U.S.–Iran agreement and easing geopolitical tensions in the Middle East. Any new developments on this front could quickly influence price action.
Do you think Gold can break above the Descending Channel?
Gold Tests a Major Reversal Zone — Breakout or Another Rejection?
$XAUT is trading at a critical technical confluence, testing the Resistance Zone, the Potential Reversal Zone (PRZ), and the upper boundary of the Descending Channel.
With multiple resistance factors aligning in the same area, this could become a decisive turning point for Gold.
Can Gold finally break above the Descending Channel, or is another bearish move approaching?
Technical Analysis
From an Elliott Wave perspective, Gold appears to be completing Wave B, with the correction developing as a Double Three (W-X-Y). This suggests the current recovery may be a counter-trend move rather than the beginning of a sustained bullish trend.
💡 Educational Note:
Wave B is often one of the most deceptive phases in Elliott Wave Theory. It can temporarily convince traders that a new uptrend has started before the broader correction resumes.
Trade Setup
As long as Gold remains below the current resistance cluster, I expect sellers to regain control.
🎯 Target 1: $4,056
🎯 Target 2: $4,043
🛑 Stop Loss: $4,118
📍Key Trading Levels
Resistance: $4,067 Pivot: $4,050 Support: $4,030
⚠️ Macro Watch: One of the key drivers behind Gold's recent recovery has been optimism surrounding a potential U.S.–Iran agreement and easing geopolitical tensions in the Middle East. Any new developments on this front could quickly influence price action.
Do you think Gold can break above the Descending Channel?