Gold Wave Analysis – 4 November 2026

Gold: ⬆️ Buy

– Gold reversed from strong support level 3920.00

– Likely to rise to resistance level 4100.00

Gold recently reversed up from the support zone between the strong support level 3920.00 (which has been reversing the price from October of 2025, stopping wave (4) in October of 2025 and the primary wave A in July), weekly down channel from September and the lower weekly Bollinger Band.

The upward reversal from this support zone started the active short-term correction inside the impulse wave (3).

Given the strength of the support level 3920.00 and the oversold weekly Stochastic, Gold can be expected to rise further toward the next resistance level 4100.00 – former strong support from October, which intersects with the resistance trendline of the aforementioned weekly down channel from September.