Gold (XAUUSD) is trading near $3,894.29 as of 3:30 a.m. New York time, above the day's opening price of $3,876.77, representing a gain of approximately 0.45% since the daily open. The intraday high stands at $3,923.21, while the low reached $3,875.14, giving a trading range of $48.07. These figures reflect the session in progress rather than finalized daily results.
Gold Elliott Wave Analysis – 30-Minute
The 30-minute Elliott Wave chart identifies purple wave (iii) at the recent low of $3,852.55, followed by a corrective recovery subdivided into blue wave a and the projected blue wave b. The initial advance contains five red subdivisions, labeled 1 through 5, while the subsequent decline is expected to extend toward the 50.0%–61.8% Fibonacci retracement area before the next upward movement. The blue projection then anticipates a recovery above $3,923.21, the chart's marked upside-continuation threshold, toward the projected purple wave (iv) endpoint near the $3,950 region. This recovery remains corrective within the displayed larger bearish sequence, rather than confirming a sustained bullish reversal. A break below $3,852.55 would meet the chart's downside-continuation condition and undermine the anticipated wave (iv) recovery. Neither the completion of blue wave b nor the projected wave (iv) high has been confirmed.
Technical Summary – November 13, 2026
- Trend: Corrective recovery projected within a larger decline
- Current Elliott Wave: Purple (iii) labeled; blue a labeled, blue b and purple (iv) projected
- Key Support: 50.0%–61.8% Fibonacci retracement area
- Downside Continuation: $3,852.55
- Upside Continuation: $3,923.21
- Next Price Target: Projected purple (iv) endpoint near $3,950
- Fibonacci Levels: 50.0% and 61.8% retracements
Trader's Question: Can gold recover above $3,923.21 before the next bearish phase?
The drawn Elliott Wave scenario allows for that outcome after a potential blue wave b pullback. A move above $3,923.21 would support the projected wave (iv) advance, provided the $3,852.55 downside-continuation threshold remains intact.