Technical analysis

Gold Wave Analysis – 13 March 2023

• Gold broke resistance area

• Likely to rise to resistance level 1950.00

Gold recently broke the resistance area located between the resistance level 1855.00 and the 38.2% Fibonacci correction of the downward correction from the start of February.

The breakout of this resistance area accelerated the active intermediate impulse wave (1).

Gold can be expected to rise further toward the next resistance level 1950.00 (previous multi-month high from the start of February).

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