China Restarts Fuel Exports

China has decided to restart exports of fuels, after a one-week suspension. This should bring some relief to fuel markets, and especially diesel markets, where prices are running at record highs, not least because of the fuel export suspension news out of China last week. The information comes from

LONDON SESSION – MARKET UPDATE

Price is currently consolidating in an ABC corrective pattern. Wave A and Wave B may have already completed, while Wave C appears to be developing.

If this scenario is correct, price could continue lower and break the short-term low at 4189 before a potential bullish reversal.

We have two key target zones below to watch for BUY opportunities:
Zone 1: 4184
Zone 2: 4173

When price reaches either of these zones, switch to lower timeframes and look for a bullish Market Structure Shift (MSS) to confirm a potential BUY entry.

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FREE CHANNEL

Suitable for traders who want to follow the main market outlook and receive a limited number of selected trading signals.

VIP CHANNEL

VIP is not simply about receiving more signals.

The key difference is that you receive daily trading plans, 6–8 signals per day, detailed explanations behind each setup, and practical guidance on how to manage trades and adjust Stop Loss according to real market conditions.

VIP is not just about following signals — it is about understanding why we enter a trade and how to manage it effectively.

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PU Prime is currently one of the brokers attracting a lot of attention from traders.

Above are the countries where PU Prime currently has offices.

If you are already familiar with PU Prime and are satisfied with trading on the platform, feel free to message me directly. I’ll guide you through the promotional program and help you get completely free access to the VIP group.

FREE CHANNEL

Suitable for traders who want to follow the main market outlook and receive a limited number of selected trading signals.

VIP CHANNEL

VIP is not simply about receiving more signals.

The key difference is that you receive daily trading plans, 6–8 signals per day, detailed explanations behind each setup, and practical guidance on how to manage trades and adjust Stop Loss according to real market conditions.

VIP is not just about following signals — it is about understanding why we enter a trade and how to manage it effectively.

📩 For access details, contact: Ethan_WavePoint_FX
🔗 Telegram: http://t.me/Ethan_WavePoint_FX

Elliott Wave Analysis – XAUUSD | October 11, 2026

D1 Timeframe

Friday's strong bullish candle is a notable signal, suggesting that buying pressure is beginning to increase. However, price has not yet broken above the short-term high at 4228, so we still lack sufficient confirmation of a new bullish trend.

For further confirmation, we want to see price break above 4228, indicating a potential shift in market structure.

Therefore, on the D1 timeframe, we need to remain patient and wait for additional confirmation before concluding that a new bullish trend has begun.

H4 Timeframe

H4 momentum is currently declining. Ideally, we want momentum to continue moving into the oversold zone. Once that happens, the level at which the decline ends will play an important role in identifying the current Elliott Wave structure.

In terms of price action, price is currently trading within a bearish Order Block (OB), with its lower boundary at 4184. More importantly, this OB is associated with a bearish Fair Value Gap (FVG), making it a potential resistance area where selling pressure could trigger another decline.
To strengthen the bullish scenario, we need to see price break above this bearish OB and surpass the high of Wave B.

For now, we will continue monitoring the decline in H4 momentum and the level at which the corrective move ends to determine the most appropriate wave count.

H1 Timeframe

At first glance, the H1 chart may suggest that Waves 1–2–3 have already been completed and that price is currently forming Wave 4 or Wave 5.

However, there is an important detail to consider: Wave 3 has not yet reached its Fibonacci 1.618 target at 4229. In fact, price is still around the Fibonacci 1.0 level at 4187.
Therefore, we need to wait for the market to open and observe whether price can continue rising toward the Fibonacci 1.618 level.

If price advances strongly toward this target, the current correction could simply be a smaller Wave 4 within an extended Wave 3 structure.

On the other hand, we must also recognize that the bearish OB, particularly its 50% level, continues to act as strong resistance.


This means the current bullish structure could still represent only Wave C of an ABC correction. If this scenario develops, the next bearish move could be significantly deeper.

Trading Scenarios
At this stage, both bullish and bearish scenarios remain valid, with neither showing a clear advantage.
For this reason, we do not prioritize BUY or SELL positions at the current price level. Instead, we should remain patient and wait for the market to reveal a clearer directional intention.

Scenario 1: Wait for H4 Momentum to Reach Oversold Conditions
We will wait for H4 momentum to continue declining into the oversold zone, then observe where price completes its corrective move.
Once a potential reversal zone is identified, we will move to lower timeframes to look for confirmation signals and potential BUY opportunities.

Scenario 2: Price Continues Rising Toward Fibonacci 1.618 at 4229
If price continues rising toward the Fibonacci 1.618 level, we will have stronger evidence that Wave 3 may have been completed.
Rather than chasing the rally, we will wait for the Wave 4 correction to finish before looking for BUY signals to participate in the potential Wave 5 advance.

Scenario 3: Look for SELL Opportunities if the Bullish Recovery Weakens
After H4 momentum reaches the oversold zone, we will monitor the next upward momentum cycle as it approaches overbought conditions.

If price shows only a weak recovery during this phase, characterized by:
Small-bodied candles indicating weak buying pressure.
Overlapping price action with limited bullish expansion.
Most importantly, failure to establish a new high.
Under these conditions, we will begin looking for bearish confirmation signals and potential SELL opportunities.

Conclusion
XAUUSD is currently at a stage where additional confirmation is needed to determine the next Elliott Wave structure.
On the D1 timeframe, 4228 remains the key resistance level that must be broken to strengthen the

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If you are already familiar with PU Prime and are satisfied with trading on the platform, feel free to message me directly. I’ll guide you through the promotional program and help you get completely free access to the VIP group.