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).
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