FX.co ★ Elliott wave analysis of Gold for January 18, 2022

Gold has completed a 6-month symmetrical triangle. All we need now is a break above the resistance line at 1,860 and more importantly a break above resistance at 1,877 to confirm that the next impulsive rally towards 2,704 is in motion.

Short-term we see support near 1,785 which ideally should be able to protect the downside for the expected break above the resistance line at 1,860 and more importantly the break above resistance at 1,877 that will be the real "GO".