Gold Wave Analysis 21 January 2025

(MENAFN- FxPro)

– Gold under bullish pressure

– Likely to rise to resistance level 2785.00

Gold under the bullish pressure after the earlier breakout of the key resistance level 2710.00, which has been steadily reversing the price from November.

The breakout of the resistance level 2710.00 accelerated the active impulse wave 3, which belongs to the medium-term impulse wave (3) from December.

Given the clear uptrend that can be seen on the daily and the weekly charts, Gold can be expected to rise to the next resistance level 2785.00, former multi-month high from October.

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