Gold Technical Analysis Report 22 January, 2026
Given the overriding daily and the weekly charts, Gold can be expected to rise to the next strong round resistance level 5000.00 (forecast price calculated for the completion of the active impulse waves 5 and (5)) – from where the price is likely to correct down on profit taking.
- Gold broke resistance zone
- Likely to rise to major resistance level 5000.00
Gold recently broke the resistance zone between the key resistance level 4800.00 and the resistance trendline of the daily up channel from November. The breakout of this resistance zone accelerated the active short-term impulse wave 5, which belongs to the intermediate impulse wave (5) from October. The impulse wave (5) belongs to the weekly upward impulse sequence (1) from 2020. The breakout of the resistance level 4800.00 added to the bullish pressure on this instrument.
Given the overriding daily and the weekly charts, Gold can be expected to rise to the next strong round resistance level 5000.00 (forecast price calculated for the completion of the active impulse waves 5 and (5)) – from where the price is likely to correct down on profit taking.
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