XAUUSD 4 HOUR**According to the Elliott Wave theory, the ongoing pattern appears to be a double correction. Wave 3 of {Y} has been completed, and Wave 4 is currently in progress. A potential buying opportunity may arise between the levels of 3360 and 3350. **
**However, if gold breaks below the 3350 level, further downside movement is expected, with the next support zone likely between 3315 and 3297. **
**Furthermore, if gold breaks the critical level of 3250, it may extend its decline toward the 3215–3197 range.**
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.