Gold recently reversed up from the support area lying between the support level 1450.00 (which also stopped the previous correction (2)), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous upward impulse wave (1) from March
The active impulse wave 1 belongs to the medium-term upward impulse wave (3) from the start of November.
Gold is expected to rise further toward the next resistance level 1480.00 (top of the previous wave (i)) – followed by 1500.00.
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