Gold: ⬆️ Buy
– Gold reversed from support level 3250.00
– Likely to rise to resistance level 3400.00
Gold recently reversed up from the support level 3250.00 (which stopped wave (b) at the end of May, as can be seen from the daily Gold chart below) intersecting with the lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from May.
The support level 3250.00 was further strengthened by the upward-sloping support trendline from February.
Given the clear daily uptrend, Gold can be expected to rise to the next resistance level 3400.00, which stopped the previous short-term correction ii.
Source: Fxpro
