Gold: ⬆️ Buy
– Gold reversed from pivotal support level 5100,00
– Gold to rise to resistance level 5425.00
Gold recently reversed from the support zone between the pivotal support level 5100,00 (former top of wave A from February) and the 38.2% Fibonacci correction of the upward wave (B) from the start of February.
The upward reversal from the support level 5100,00 is likely to form the daily Bullish Engulfing candlesticks reversal pattern today.
Given the clear daily uptrend, Gold can be expected to rise to the next resistance level 5425.00 (which stopped the previous wave (B)).
Source: Fxpro