Gold Wave Analysis 19 September 2024

– Gold reversed from support level 2550.00

– Likely to rise to resistance level 2600.00

Gold continues to rise inside the minor impulse waves v and 3, which belong to the intermediate impulse wave (3) from the start of June.

The price earlier reversed up from the support level 2550.00, which stopped the previous short-term correction yesterday.

Given the prevailing daily uptrend, Gold can be expected to rise further to the next resistance level 2600.00 – the breakout of which can lead to the next resistance at 2625.00.