Gold Wave Analysis – 17 February, 2022

• Gold broke key resistance level 1875.00

• Likely to rise to resistance level 1920.00

Gold continues to rise after the earlier breakout of the key resistance level 1875.00, which was set as the likely upward target in earlier forecast of this instrument.

The breakout of the resistance level 1875.00 should accelerate the active short-term impulse waves iii and (iii).

Gold can be expected to rise further toward the next key resistance level 1920.00 (target for the completion of wave (iii), intersecting with the daily up channel from September).