Technical analysis

Gold Wave Analysis 22 February, 2021

Gold Wave Analysis 22 February, 2021

• Gold reversed from key support level 1766.00

• Likely to rise to 1825.00

Gold recently reversed up with the daily Morning Star from the key support level 1766.00 (which stopped the previous medium-term impulse wave (A) at the end of November).

The support area near the support level 1766.00 was strengthened by the lower daily Bollinger band.

Gold can be expected to rise further toward the next resistance level 1825.00. Strong support remains at the support level 1766.00.

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