Gold Wave Analysis – 23 July 2026

Gold: ⬇️ Sell

– Gold reversed from resistance level 4210.00

– Likely to fall to support level 3965.00

Gold recently reversed from the resistance area located at the intersection of the resistance level 4210.00 (top of wave i from the start of July), resistance trendline from February and the 50% Fibonacci correction of the downward impulse from June.

The downward reversal from this resistance zone stopped the previous minor impulse wave iii from the middle of July.

Given the overriding daily downtrend, Gold can be expected to fall further to the next support level 3965.00.