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Gold Wave Analysis – 21 March, 2019

  • Gold broke key resistance level 1310.00
  • Further gains are likely

Gold recently broke through the resistance level 1310.00 (which stopped the (a)-wave of the active B-wave earlier this month).

The breakout of the resistance level 1310.00 strengthened the bullish pressure on Gold – which is apparent from the accelerating daily Momentum indicator.

Gold is expected to rise further and re-test the next resistance level 1330.00 (target price for the completion of the active impulse wave (c)).

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Source: FxPro


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