Gold: ⬆️ Buy
– Gold reversed from support area
– Likely to rise to resistance level 3500.00
Gold recently reversed up from the support area between the upper trendline of the daily up channel from January and the 38.2% Fibonacci correction of the upward impulse 3 from last month.
The upward reversal from this support area stopped the previous minor downward correction 4 which started earlier from the key resistance level 3500.00.
Given the strong daily uptrend, Gold can be expected to rise in the active impulse wave 5 toward the next resistance level 3500.00.
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