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Gold Wave Analysis – 24 December, 2019

  • Gold broke key resistance level 1483.00
  • Likely to rise to 1513.00

Gold recently broke the key resistance level 1483.00 (which stopped the previous impulse waves i and (i)) – intersecting with the resistance trendline of the daily down channel from August.

The breakout of the resistance level 1483.00 accelerated the active impulse waves 3 and (3).

Gold is expected to rise further toward the next resistance level 1513.00 (top of the previous waves B and (ii) and the target for the completion of wave 3).

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