Gold Wave Analysis – 10 November, 2021

• Gold broke strong resistance level 1832.00

• Likely to rise to resistance level 1860.00                                                                 

Gold recently broke above the strong resistance level 1832.00 (which has been reversing the price from the middle of July), intersecting with the 61.8% Fibonacci correction of the ABC correction (2) from the end of May.

The breakout of the resistance level 1832.00 accelerated the active minor impulse waves (iii) and 3.

Gold can be expected to rise further toward the next resistance level 1860.00 (former support from May and June).