Gold be expected to rise further toward the next resistance level 2700.00 (target price for the completion of the active minor impulse wave 5).
– Gold broke resistance area
– Likely to rise to resistance level 2700.00
Gold continues to rise sharply inside the minor impulse wave 5 which recently broke through the resistance area located between the key resistance level 2600.00 (which reversed the earlier minor impulse wave 3, as you can see from the daily Gold chart below) and the resistance trendline of the sharp daily up channel from June. The breakout of this resistance area accelerated the active minor impulse wave 5, which belongs to the higher order impulse sequence (3) from the end of July.
Given the clear daily uptrend the strengthening safe haven inflows into gold on rising geopolitical tensions worldwide, Gold be expected to rise further toward the next resistance level 2700.00 (target price for the completion of the active minor impulse wave 5).
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