Elliott wave analysis of Gold for November 15, 2021

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Gold is testing the triangle resistance-line near 1,866. A break above here will indicate the completion of wave 4 and set the stage for a strong rally in wave 5 towards at least 2,344 or higher to 2,702.

In the short-term, we see support near 1,834 that ideally will be able to protect the downside for the break above resistance at 1,866.

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

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