Gold (XAU/USD) Wave Analysis – Bearish Expectations and When Doe

**📌 Main idea:**

This analysis is based on **Elliott Wave Theory**, as it appears that gold has completed the **Expanded Flat** correction pattern, which consists of:
- **Wave A**: Initial rise
- **Wave B**: Upward correction that exceeds the peak of A
- **Wave C**: Strong decline that breaks the bottom of wave A

#### **📉 Expected scenario:**
🔴 After the price reaches **2,886.80**, there is a strong possibility of starting a downward correction targeting:
1️⃣ **2,789.97** (initial support)
2️⃣ **2,596.32** (major support)
3️⃣ **2,536.50** (possible final target before a new rebound occurs)

#### **🛑 When is the bearish scenario canceled and the analysis failed?**
✅ **Breakthrough Clear and daily close above 2,886.80 - 2,900.00**:
- If the price breaks this area and continues to rise, this means that wave C may have failed, and the market may start a new bullish wave instead of the expected correction.

✅ **Strong buying momentum appears with the break of previous highs**:
- If we see strong rises without a clear correction, this indicates the continuation of the bullish trend instead of a bearish correction.

### **🔥 Analysis summary:**
⚡ Gold faces a possible bearish correction provided that **2,886.80** is not breached, but if the price continues to rise above **2,900.00**, the bearish scenario will fail and we may witness a new bullish extension. 🚀

**Do you have any other questions? 🔥**



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