Gold Is Bullish, But Be Aware Of Deeper Intraday Pullback; Elliott Wave Intraday Analysis
Jun 2, 2025

XAUUSD

Gold is coming nicely higher for wave subwave »c« of a projected three-wave abc corrective recovery in wave B and it’s now testing key resistance, from where we may see another sell-off for a wave C of a higher degree wave (2), especially if we consider a new open GAP at 3925 level and then prevoius one at 3200 area, which can act as a strong support. However, if gold breaks straight above 3367 level decisively, then higher degree wave (3) can be already in full progress.

Gold Is Bullish, But Be Aware Of Deeper Intraday Pullback; Elliott Wave Intraday Analysis XAUUSD(gold) 1H Chart
XAUUSD(gold) 1H Chart

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