Elliott wave analysis of gold for October 14, 2021

Gold is ready to challenge minor resistance at 1,834 again. It is likely to break higher towards key resistance at 1,917. A break above here will finally confirm that the triangle consolidation we have witnessed in the last 13 months has been completed and the next impulsive rally towards 2,344 is in motion. In the short term, we see support at 1,750 that ideally will be able to act as a floor for the rally to and above minor resistance at 1,834. The material has been provided by InstaForex Company - www.instaforex.com

Elliott wave analysis of gold for October 14, 2021

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Gold is ready to challenge minor resistance at 1,834 again. It is likely to break higher towards key resistance at 1,917. A break above here will finally confirm that the triangle consolidation we have witnessed in the last 13 months has been completed and the next impulsive rally towards 2,344 is in motion.

In the short term, we see support at 1,750 that ideally will be able to act as a floor for the rally to and above minor resistance at 1,834.

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