I expect gold to be entering the final bullish wave of its current long-term cycle, with an ultimate target in the $3,900–$4,050 range.
However, the first major resistance lies between $3,600 and $3,700, where I expect a potential pullback.
From there, a healthy correction toward $3,300–$3,400 is likely.
If strong buying momentum steps in at that support zone, we may see gold continue its rally toward the final target.
Key Risk Level:
Pay close attention to the $3,300–$3,400 support.
If gold fails to hold above it, and closes decisively below, this could signal that $3,600 was already the final top of this bull cycle.
However, the first major resistance lies between $3,600 and $3,700, where I expect a potential pullback.
From there, a healthy correction toward $3,300–$3,400 is likely.
If strong buying momentum steps in at that support zone, we may see gold continue its rally toward the final target.
Key Risk Level:
Pay close attention to the $3,300–$3,400 support.
If gold fails to hold above it, and closes decisively below, this could signal that $3,600 was already the final top of this bull cycle.
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