FX.co ★ Elliott wave analysis of Gold for June 16, 2021

Gold is now at a place were the next impulsive rally towards resistance at 1.961 and 2.071 could be seen. We will need a break above 1.870 and more importantly a break above resistance at 1.903 to confirm the next impulsive rally higher towards 1.961 and 2.701 is in motion.

Ultimately we will be looking for a break above the former all-time high at 2.071 too for a move towards 2.704

Trading recommendation:

Buy a break above 1.870 for a rally towards 1.961 and 2.071 as the next upside target.