Gold Wave Analysis – 24 April 2025

Gold: ⬆️ Buy

– Gold reversed from support area

– Likely to rise to resistance level 3500.00

Gold recently reversed up from the support area between the upper trendline of the daily up channel from January and the 38.2% Fibonacci correction of the upward impulse 3 from last month.

The upward reversal from this support area stopped the previous minor downward correction 4 which started earlier from the key resistance level 3500.00.

Given the strong daily uptrend, Gold can be expected to rise in the active impulse wave 5 toward the next resistance level 3500.00.