Gold: ⬆️ Buy
– Gold broke resistance area
– Likely to rise to resistance levels 3700.00 and 3800.00
Gold recently broke the resistance area between the key resistance level 3500.00 (which stopped the sharp impulse wave 1 in April) and the resistance trendline of the daily up channel from May.
The breakout of this resistance area accelerated the active impulse wave iii of the medium-term impulse wave 3 from the start of May.
Given the clear daily uptrend, Gold can be expected to rise to the next resistance level 3700.00 – followed by 3800.00 (target for the completion of the active impulse wave 3).
Source: Fxpro