Spot Gold Eyeing AB=CD Support?

With the daily price of spot gold (XAU/USD) again rejecting resistance from US$2,716, this unearths a possible AB=CD harmonic support zone at US$2,473. This support is also complemented by Fibonacci support from 38.2% and 61.8% retracement ratios at US$2,479 and US$2,475, respectively. In addition, a 1.272% extension ratio at US$2,488 and a clear-cut uptrend is seen. Consequently, although this pattern may not be completed this year, it is one that many will likely consider adding to the watchlist for 2025.
Harmonic PatternsTrend Analysis

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