FX.co ★ Elliott wave analysis of Gold for February 15, 2022

Gold has broken above the peak of wave D at 1,877 indicating that the symmetrical triangle in wave 4 has been completed and wave 5 towards 2,700 now is in motion. The next hurdle to overwin is seen at 1,916.50 and a break above here will just add confidence in the fact, that wave 5 now is in force and a rally towards 2,700 is in play.

Support is now seen at 1,853, which ideally will protect the downside for a continued push higher.