Categories: Technical analysis

Gold Wave Analysis – 13 March 2025

Gold: ⬆️ Buy

– Gold broke resistance level 2962.00

– Likely to rise to resistance level 3000.00

Gold rose sharply after breaking above the resistance level 2962.00 (top of the previous sharp upward impulse wave 3 from the end of February).

The breakout of the resistance level 2962.00 continues the active impulse wave 5 of the extended upward impulse sequence (3) from November.

Given the clear daily uptrend, Gold can be expected to rise to the next round resistance level 3000.00 – the breakout of which can lead to further gains toward 3050.00.

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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Tags: gold

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