Gold Enters Critical Cycle Window, Targets $4,649 Breakout
Gold prices are experiencing a critical cycle window, which could potentially lead to a breakout towards $4,649. The market has reclaimed its Daily VC PMI mean of $4,558 and is challenging the upper weekly resistance zone.
The next major objectives for gold are Weekly Sell 2 at $4,581, followed by Daily Sell 1 near $4,600 and Daily Sell 2 at $4,649. The market is already testing the Weekly Sell 2 area, which increases the probability of short-term profit-taking.
On corrections, $4,558 becomes first support. Below the mean, Daily Buy 1 at $4,519 represents the preferred first high-probability reversion-buying zone, followed by Daily Buy 2 at $4,467.
The powerful reversal from the August 18-19 low and subsequent acceleration places gold in an important late-August cycle window. The immediate cycle focus is August 21-24, followed by August 27-31.