Gold Wave Analysis 4 January, 2021

January 04, 2021 at 03:36PM

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• Gold rising sharply

• Likely to rise to 1965.00

Gold continues to rise sharply after the price broke through the pivotal resistance level 1900.00 (which stopped the previous waves 2 and 1).

The breakout of the resistance level 1900.00 coincided with the breakout of the daily down channel from August – which accelerated the active impulse waves 3 and (3).

Gold is expected to rise further to the next resistance level 1965.00 (monthly high from September and November of 2020).

From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/gold-wave-analysis-4-january-2021-20210104/
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