Elliott wave analysis of Gold for April 21, 2021

analytics607fbb7865a08.jpg

Gold has broken above minor resistance at 1,755.42 indicating that wave 4 is complete and that wave 5 higher to 2,705 now is in motion. A break above 1,868 will confirm that wave 5 has taken over for a rally to the 2,705 target.

Support is now seen at 1,755 with key-support at 1,677.

Trading recommendation

Buy gold near 1,755 or upon a break above 1,868 for a rally towards 2,705

The material has been provided by InstaForex Company - www.instaforex.com

Pages