Gold Analysis Report

1. **Trend Analysis**: The gold market is currently in an uptrend, with higher highs and higher lows
observed.
The price has recently bounced from a strong support zone near $2,836.
2. **Support and Resistance Levels**:
- Key Support Levels: $2,847, $2,826
- Key Resistance Levels: $2,866, $2,889
3. **Liquidity Zones**:
- High Liquidity Zone: Around $2,866-$2,889 (potential reversal area)
- Low Liquidity Zone: Around $2,826 (strong demand zone)
4. **Elliott Wave Analysis**:
- The recent movement forms a complete Wave (2), and the market is now entering Wave (3),
which indicates a bullish continuation.
5. **Recommendations**:
- **Buy**: Near $2,847-$2,826, targeting $2,866 and $2,889. Stop loss below $2,812.
- **Sell**: If the price fails to break $2,889 with strong rejection, targeting $2,847.
6. **Overall View**:
levels.
- The trend remains bullish unless the price breaks below $2,826. Watch for momentum near key
Refer to the attached chart for a visual representation.