Gold Wave Analysis – 06 August, 2020
August 06, 2020 @ 17:47 +03:00
• Gold rising inside weekly impulse waves 3 and (3)
• Likely to rise to 2100.00
Gold has been rising strongly in the last few trading sessions – breaking through key resistance levels 1900.00 and 2000.00 – and also through the sharp weekly up channel from March.
Multiple breakouts of the resistance levels accelerated the active weekly nested impulse waves 3 and (3).
Given the sharp increase in the daily and intraday Momentum – Gold is likely to rise further toward the next resistance level 2100.00.