Gold Wave Analysis – 12 December, 2019

• Gold reversed from support area
• Likely to rise to 1500.00

Gold recently reversed up from the support area lying between the support level 1453.00 (which has been reversing the price from September) and the lower daily Bollinger Band.

The price earlier broke the resistance trendline from September – which should accelerate the active impulse waves (i), 1 and (1).

Gold is expected to rise further toward the next round resistance level 1500.00 (target for the completion of the active impulse wave 1).