Technical analysis

Gold Wave Analysis – 22 July, 2020

Gold Wave Analysis – 22 July, 2020

• Gold rising inside impulse waves 3 and (3)

• Likely to rise to 1900.00

Gold continues to rise inside the two nested fast-moving upward impulse waves 3 and (3) from the end of 2019.

These impulse waves were accelerated earlier – when the price broke above the resistance area lying between the resistance level 1750.00 and the resistance trendline of the wide weekly up channel from the middle of 2019.

Gold is likely to rise further toward the next resistance level 1900.00 (forecast price for the completion of the active impulse wave (3)).

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