Gold: ⬆️ Buy
– Gold reversed from support zone
– Likely to rise to resistance level 4655.00
Gold today reversed up from the support zone between the support levels 4400.00 (low of wave (A) from February)), 4275.00 (low of wave 4 from December) and 50% Fibonacci correction of the upward impulse from last year.
The upward reversal from this support zone is currently forming daily Japanese candlesticks reversal pattern Hammer.
Given the strong daily uptrend, Gold can be expected to rise toward the next resistance level 4655.00 (former support from February).
Source: Fxpro