Aetram Global Research: XAUUSD (Spot Gold) Technical Research Report - 02.11.2026

Aetram Global Research: XAUUSD (Spot Gold) Technical Research Report

Gold Stabilizes Near 3900 After Sharp Decline; Recovery Above 3916 May Target 3966 While 3890 Failure Risks 3850

• Chart Name: XAUUSD (Spot Gold)
• Current Market Price: 3908
• Current Trend: Gold is stabilizing near recent lows, while broader bearish structure remains technically intact.
• Trend Dominance: Bears retain structural control, although immediate selling momentum has moderated near support.

CHART OUTLOOK & PREDICTION

• XAUUSD is attempting to form a base around 3890–3905 after the steep decline from above 4000. RSI at 49.66 has normalized, while MACD remains negative and ADX at 18.91 signals reduced trend intensity. The declining 3916–3991 moving-average structure remains overhead. Above 3916 may encourage recovery toward 3966; below 3890 could expose 3850.

UPCOMING EVENTS

• U.S. JOLTS data may influence yields and near-term gold direction (Positive Catalyst)
• U.S. employment report may pressure gold if labour remains resilient (Negative Catalyst)
• October U.S. CPI may support gold if inflation moderates further (Positive Catalyst)

MAJOR SUPPORT AND RESISTANCE

• Support Levels: 3890 / 3870 / 3850
• Resistance Levels: 3916 / 3966 / 3991

TREND, VOLUME & DOW THEORY ANALYSIS

• Dow Theory continues to reflect lower highs and lower lows, although the latest candles show stabilization after heavy selling. Volume participation remains elevated around the base, while declining averages and negative MACD retain bearish alignment. Weak ADX suggests immediate continuation momentum has eased.

SCENARIO-BASED OUTLOOK

• Bullish Scenario: Above 3916, price may move toward the 3966–3991 zone.
• Bearish Scenario: Below 3890, downside risk could extend toward the 3870–3850 zone.
• Neutral Scenario: Between 3890–3916, base-building and consolidation may remain likely.

FINAL TAKEAWAY

• Spot Gold is attempting to stabilize near 3900 after a substantial decline, but the broader structure remains bearish beneath 3916–3991. Momentum has normalized rather than reversed; reclaiming 3916 could improve recovery prospects, while sustained weakness below 3890 may reopen downside risk.

CAUTION NOTES

• All Positivity Negates on breaking below 3890.
• All Negativity Negates on breaking above 3916.

DISCLAIMER: This research report is for informational purposes only. This is not an offer to buy or sell securities. Past performance is not indicative of future results. There is no guarantee of returns. Investments in securities are subject to market risks including loss of capital. Investors should consult their financial advisor before making any investment decisions.