Gold Wave Analysis 4 January, 2021

• Gold rising sharply

• Likely to rise to 1965.00

Gold continues to rise sharply after the price broke through the pivotal resistance level 1900.00 (which stopped the previous waves 2 and 1).

The breakout of the resistance level 1900.00 coincided with the breakout of the daily down channel from August – which accelerated the active impulse waves 3 and (3).

Gold is expected to rise further to the next resistance level 1965.00 (monthly high from September and November of 2020).