Gold Daily Plan | Nov 2, 2026

Bear flag under 3917 after one-year low

**H1 view:** Gold collapsed from above 4060 and printed a low near **3857**, the lowest level in about a year. Since then, price has been moving sideways in a tight box between **3894 and 3917**. After a drop this strong, a pause like this usually works as a **bear flag**, a consolidation before the next leg down.

**Key levels:**

- Resistance: 3917 (top of the box), then 3935

- Support: 3894 (bottom of the box), then 3870 and 3857 (low)

- Bearish target if 3857 breaks: 3800

**Fundamentals:**

- The Fed held rates on Oct 28, but two members voted for a hike.

- US Q3 GDP came in at 3.4%, and PCE inflation rose to 3.6%. That supports a December hike and higher yields, which pressures gold.

- On the other side, central bank buying and record ETF inflows could slow the decline.

- This week: ISM Manufacturing today and the US jobs report (NFP) on Friday.

**Trade: SELL LIMIT XAUUSD (H1)**

I want to sell the top of the box, in the direction of the trend.

- Entry: 3915