Gold Crashes Below the July Lows: How Low Can It Go?
1 extracted signal · 0 resolved · 1 still active
MCO MarketsIndependent analyst profile- Source published
- 30 Oct 2026, 18:19 UTC
- Recorded by Tahlil Plus
- 30 Oct 2026, 22:14 UTC
AI-generated source summary
The analysis focuses on Gold (XAUUSD) using Elliott Wave Theory on a daily chart. The current price is around 1750. The dominant trend is bearish, with the price currently in a potential C wave of a WXY structure, expected to target the 50% Fibonacci retracement level at 3318.95. The 38.2% level is at 3762.28. The analysis suggests that the previous B wave high was around 4800, and a break above the resistance at 4100 would be needed to invalidate the bearish outlook. The fail bound is set at 4100, which represents a break of key resistance and a potential invalidation of the current wave count, suggesting further upside instead of the expected continuation lower. The 100% extension level is at 2787.56 and the 138% extension is at 2190.53, suggesting potential deeper targets if the price continues to decline.
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