Gold Wave Analysis – 13 January, 2023

• Gold broke resistance level 1875.00

• Likely to rise to resistance level 1950.00

Gold continues to rise after the earlier breakout of the key, multi-month resistance level 1875.00 (previous monthly high from the start of June).

The breakout of this resistance level 1875.00 continues the impulse wave 3 of the intermediate impulse wave (C) from the end of November.

Gold can be expected to rise further toward the next resistance level 1950.00 (forecast price for the completion of the active impulse wave (C)).