Gold: ⬆️ Buy
– Gold broke resistance daily Triangle
– Likely to rise to resistance level 3450.00
Gold recently broke the resistance zone between the resistance level 3370.00 (upper border of the narrow sideways price range inside which Gold has been trading from the end of June) and the resistance trendline of the daily Triangle from April.
The breakout of this resistance zone accelerated the active impulse wave 3, which is a part of the intermediate impulse wave (5) from May.
Given the clear daily uptrend, Gold can be expected to rise further to the next resistance level 3450.00 (top of the minor impulse wave 1 from the middle of June).
Source: Fxpro
