Gold Wave Analysis – 05 August, 2019

• Gold broke resistance area
• Further gains are likely

Gold today broke the resistance area lying between the resistance levels 1430.00 and 1450.00 – which has been reversing the price from the end of June.

The breakout of this resistance area should accelerate the active impulse waves 3 and (3).

Gold is expected to rise further and retest the next round resistance level 1500.00 (target price for the completion of the active impulse wave 3).