Technical analysis

Gold Wave Analysis 29 March, 2021

Gold Wave Analysis 29 March, 2021

• Gold falling inside impulse wave (3)

• Likely to reach support level 1675.00

Gold continues to fall inside the intermediate impulse wave (3), which started earlier from the resistance level  1755.00 (former multi-month support level from November).

The price is currency approaching the support level 1700.00 (low of the previous minor correction B).

If Gold breaks the support level 1700.00  – the price will then most likely fall to the next support level 1675.00 (low of the previous intermediate impulse wave (1)).

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