Categories: Technical analysis

Gold Wave Analysis – 13 January, 2022

• Gold reversed from resistance level 1826.71

• Likely to fall to support level 1800.00

Gold recently reversed down from the pivotal resistance level 1826.71, intersecting with the daily upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward correction (ii) from November.

The downward reversal from the resistance level 1826.71 stopped the previous impulse waves (iii) and 3.

Gold can be expected to fall further toward the next round support level 1800.00 (which has been reversing the pair from November).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: gold

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