Gold Wave Analysis – 2 June 2025

Gold: ⬆️ Buy

– Gold broke daily down channel

– Likely to rise to resistance level 3440.00

Gold recently broke the resistance trendline of the daily down channel from April (which enclosed the previous medium-term ABC correction (2)).

The breakout of this down channel should accelerate the active minor impulse wave 3 of the intermediate impulse wave (3) from May.

Given the clear daily uptrend, Gold can be expected to rise to the next resistance level 3440.00 (top of the B-wave from May).