Gold recently reversed up from the support area lying between the key support level 1310.00 (former strong resistance from May and June) and the 38.2% Fibonacci correction of the previous sharp upward impulse from January.
The upward reversal from this support area continues the active short-term impulse wave 5 of the medium-term impulse wave (3) from the middle of November.
Gold is expected to rise further and re-test the next resistance level 1325.50 (top of the previous short-term impulse wave 3).
German industrial production continues to decline. The rate of contraction in March was slightly better…
US indices have been gaining daily since the beginning of May. They have found strength…
Market picture The crypto market has lost 2% of its capitalisation over the last 24…
- S&P 500 reversed from support level 5000.00 - Likely to rise to resistance level…
- USDCHF reversed from support zone - Likely to rise to resistance level 0.9200 USDCHF…
The single currency is trading near $1.076, waiting for further cues and facing serious resistance…
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