Gold: ⬆️ Buy
– Gold reversed from support zone
– Likely to rise to resistance level 4200.00
Gold recently reversed up from the support zone between the round support level 4000.00 and the support level 3900.00.
This support zone was strengthened by the lower daily Bollinger Band and by the 61.8% Fibonacci correction of the sharp upward impulse from September.
Given the strong daily trend and the still oversold daily Stochastic, Gold can be expected to rise further to the next resistance level 4200.00 (target price for the completion of the active wave c).
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