Gold recently reversed up from the support area lying between the support level 1455.00 (low of the earlier wave (A) from September), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward price impulse form August.
The upward reversal from this support area started the active short-term correction (ii).
Gold is expected to rise further toward the next resistance level 1480.00 – former strong support from the end of October (low of waves 1, (b) and (i)).
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