Gold continues to rise after the earlier upward reversal from the support area lying between the pivotal support level 1660.00 and the 50% Fibonacci retracement of the previous upward impulse (i).
The upward reversal from this support area created the daily candlestick reversal pattern Hammer – which started the active wave (b).
Gold is expected to rise further toward the next resistance level 1746.00 (top of the previous impulse wave (i)).
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