Categories: Technical analysis

Gold Wave Analysis 19 September 2024

– Gold reversed from support level 2550.00

– Likely to rise to resistance level 2600.00

Gold continues to rise inside the minor impulse waves v and 3, which belong to the intermediate impulse wave (3) from the start of June.

The price earlier reversed up from the support level 2550.00, which stopped the previous short-term correction yesterday.

Given the prevailing daily uptrend, Gold can be expected to rise further to the next resistance level 2600.00 – the breakout of which can lead to the next resistance at 2625.00.

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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