Gold Wave Analysis – 21 March, 2019

Gold broke key resistance level 1310.00
Further gains are likely

Gold recently broke through the resistance level 1310.00 (which stopped the (a)-wave of the active B-wave earlier this month).

The breakout of the resistance level 1310.00 strengthened the bullish pressure on Gold – which is apparent from the accelerating daily Momentum indicator.

Gold is expected to rise further and re-test the next resistance level 1330.00 (target price for the completion of the active impulse wave (c)).

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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