Elliott wave analysis of gold, October 27, 2021

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Gold continues to move closer to the triangle resistance-line near 1,864.40. If gold breaks through this triangle resistance line, it may grow to at least 2,344 and possibly much higher if the impulsive fifth wave extends.

In the short term, gold could see minor resistance near 1,834 for a temporary decline to 1,765 before the next rally through the triangle resistance line occurs.

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

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