Technical analysis by Trade_Hive_Signals about Symbol PAXG on 11/17/2025

XAUUSD: Wave 5 at the start or the last throwback of the bulls? 🌀 Wave Context According to WebMile, on the weekly chart, gold is in the process of forming wave 5 (of a higher degree), while the current corrective rally is wave 4, developing within a larger structure. This means that the gold market is currently balancing between continuing its long-term momentum and a possible medium-term pullback. 🛠 Key Support and Resistance Levels Resistance: approximately $4,000–$4,030, an area where bulls could face a significant obstacle. Secondary Resistance: $3,750, the target of a potential upside within the impulse according to short-term analysts. Support: approximately $3,841–$3,864, the area where wave (4) of the correction is developing. Deeper Support: $3,320–$3,230, a larger support level targeted by a correction in wave C under one of the scenarios. 📈 Weekly Scenarios Bullish Scenario: Gold holds the $3,841–$3,864 zone → completes wave 4 correction → breaks above $4,000+ → potential wave 5 development. Corrective Scenario: Price fails to hold the $4,000 resistance and pulls back → wave C develops → decline to $3,320–$3,230 could be part of a deeper correction. Consolidation: XAU/USD could trade in the $3,850–$4,000 range, accumulating energy before the next move until a clear breakout signal is seen. ✅ Conclusion Gold is at a key point for the coming week: either the bulls complete the correction and initiate a new momentum, or the correction deepens. We need to monitor the reaction to the $3,841–3,864 (support) and $4,000 (resistance) levels. The wave structure currently allows for both scenarios—it's important to wait for confirmation!