Gold Wave Analysis 27 November 2023

– Gold broke key resistance level 2000.00

– Likely to rise to resistance level 2050.00

Gold recently broke the key resistance level 2000.00 (which stopped the previous waves (1), B and 1, as can be seen below).

The breakout of the resistance level 2000.00 continues the active minor impulse wave 3 which belongs to wave (3) from the start of this month.

Gold can be expected to rise further to the next resistance level 2050.00 (former strong resistance from April and May) – from where the downward correction is likely.