Gold Wave Analysis – 16 April 2025

Gold: ⬆️ Buy

– Gold broke resistance zone

– Likely to rise to the resistance level 3300.00

Gold recently broke the resistance zone between the resistance level 3200.00 and the resistance trendline of the daily up channel from January.

The breakout of this resistance zone accelerated the active short-term impulse wave 3, which belongs to the intermediate impulse wave (3) from November.

Given the clear daily uptrend, Gold can be expected to rise to the next resistance level 3300.00, the breakout of which can lead to further gains toward 3400.00.