Technical analysis

Gold Wave Analysis – 13 April 2023

• Gold broke resistance level 2030.00

• Likely to rise to resistance level 2100.

Gold continues to rise after the price broke the minor resistance level 2030.00 (which reversed the price at the start of this month).

The breakout of the resistance level 2030.00 continues the active minor impulse wave 3 which belongs to the sharp upward impulse sequence (3) from February.

Given the multi month uptrend, Gold can then be expected to rise further toward the next resistance level 2100.00 (forecast price for the completion of the active impulse wave 3).

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