Gold can be expected to rise further to the next resistance level 4565.00 – former resistance form May and the target for the completion of the active minor impulse wave 3.
- Gold broke resistance zone
- Likely to rise to resistance level 4565.00
Gold recently broke the resistance zone lying at the intersection of the resistance level 4385.00 (top of wave iv from the start of June) and the 50% Fibonacci correction of the previous sharp downward impulse wave C from April. The breakout of this resistance zone accelerated the active minor impulse wave 3 that belongs to the higher order upward impulse wave (C) from the end of June.
Given the strength of the active impulse waves 3 and (C), Gold can be expected to rise further to the next resistance level 4565.00 – former resistance form May and the target for the completion of the active minor impulse wave 3.