Gold recently reversed up from support area lying between the key support level 1480.00 (which has been reversing the price from September), lower daily Bollinger Band and the 50% Fibonacci correction of the previous upward impulse from the start of August.
The upward reversal from this support area started the active short-term impulse wave 3.
Gold is expected to rise further and retest the next resistance level 1520.00 (top of the previous impulse wave 1).
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