Gold: Elliott Wave Corrective Cylce, Keeping Close eye On Gold Miners Key Support

The article is a technical outlook on gold, arguing that the metal remains in a higher-degree Elliott Wave corrective phase rather than a completed uptrend. The author says gold has been tracking a corrective ABC pattern and is now approaching key weekly support zones that could determine the next major move. For spot gold (XAUUSD), the ideal support area is cited around 3,900–3,200, where buyers may step in and potentially restart a larger wave 5 advance. For gold miners, the GDX ETF is said to be nearing support in the 70–68 range, with bullish confirmation only above 90. Overall, the tone is cautiously constructive: the near-term setup is still corrective, but the article frames these support levels as potential launch points for a renewed upside phase if they hold.