Gold market analysis

Gold Market Analysis: Gold Prices Expected to Bottom Out and Rebound in the Short Term  
Completed: 15:20, 13/11/2026
Affected by the U.S. CPI data, gold prices weakened again, with the weakness becoming more pronounced. As seen on the hourly chart, the expected magnitude of the Wave B rebound exceeded only slightly 38.2% of Wave A, which is smaller than my expected 50% rebound, but this is also entirely normal. The subsequent Wave C decline was sharp and substantial, which is also consistent with the characteristics of a Wave C. Using Fibonacci extension lines, the current calculated low of Wave C is USD 3,852.81, close to the level of USD 3,847.78, which corresponds to 1.618 times Wave A.
Moreover, gold prices also broke below the starting point of Wave 1, indicating that the entire upward trend has reversed. However, as seen on the daily chart, gold closed yesterday at USD 3,876.75, above the Wave 1 low of USD 3,870.17. The daily chart trend also shows a slight bullish divergence with the 9RSI, while technically forming a double-bottom pattern, suggesting an opportunity for a significant rebound. The Wave 5 top at USD 4,148.95 can be regarded as the neckline and the first upside target. Once this level is broken, a simple double-bottom measurement gives a target of USD 4,445.43.
Gold prices have now risen above the hourly 20SMA (around USD 3,895), with the short-term upside target at the 50SMA (USD 3,960). However, the current price action remains weak, so it is advisable to take a small position to speculate on a rebound, while strictly setting a stop-loss. The stop-loss should not be set too far away; it is better to take several small losses than to place a large bet at once and preserve capital. Based on the short-term cyclical trend, gold prices are expected to bottom out and rebound today, so buying on dips remains the primary strategy (this does not mean selling is not allowed).
The above content is for reference only and does not constitute investment advice.