FX.co ★ Elliott wave analysis of Gold for March 14, 2022

Gold has rallied nicely and is currently correcting the rally to 2,074. We are looking for a break above minor resistance at 2,009 to confirm the correction is complete and the next impulsive rally higher through resistance at 2,074 is in motion for a rally towards 2,400 as the next upside target.

Longer-term we expect the rally in gold to continue all the way to 2,700.

Only a break below support at 1,958 will delay the expected rally for a dip to 1,915 before higher again.