Gold Wave Analysis – 19 January, 2022

• Gold broke resistance level 1825.00

• Likely to rise to resistance level 1860.00

Gold continues to rise after the earlier breakout of the resistance level 1825.00 (top of the previous impulse wave (i)), intersecting with the 61.8% Fibonacci correction of the earlier downward correction from November.

The breakout of the resistance level 1825.00 continues the active impulse waves (iii) and iii.

Gold can be expected to rise further toward the next resistance level 1860.00 (which has been reversing the pair from the middle of December).