Gold today broke through the key resistance level 1250.00 (which stopped the price at the start of December, as can be seen below).
The breakout of the resistance level 1250.00 should accelerate the active impulse wave 3 which previously reversed up with the daily Japanese candlesticks reversal pattern Evening Star from the pivotal support level 1235.00.
“Gold is expected to rise further in the active impulse waves (iii) and 3 and re-test the next resistance level 1260.00 (former resistance level from July)” – the FxPro analyst commented.
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- 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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- Gold reversed from support zone - Likely to rise to resistance level 2400.00 Gold…
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