Gold has finally broken nicely above resistance at 1,735 confirming that wave C of 4 has been completed and wave 5 towards at least 2,400 is in progress. We will be looking for a rally towards resistance in the 1,799 - 1,809 area from where we could see a temporary correction back to retest the former resistance which now acts as support at 1,735 before the next strong rally higher to 1,912 and 2,070 as the next major hurdles on the way higher to 2,400 and possibly 2,700.
Relevance up to 06:00 2022-11-15 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
