Technical analysis

Gold Wave Analysis – 17 March 2023


• Gold broke key resistance level 1950.00

• Likely to rise to resistance level 2000.00

Gold just broke above the key resistance level 1950.00 (previous Double Top from the end of January, which stopped the previous waves (iii) and (1)).

The breakout of the resistance level 1950.00 should add to the bullish pressure on Gold -and further accelerate the active impulse waves 3 and (3).

If Gold can close this week above 1950.00, the price can then be expected to rise further toward the next round resistance level 2000.00.

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