Gold has been rising steadily in the last few trading session and is currently trading close to the key resistance level 1738.00 (top of the previous short term correction (b) from the middle of April) intersecting with the upper Bollinger band. If gold breaks above the resistance level 1738.00 on a weekly basis (closes above this level today) – the price can then be expected to rise further toward the next major the resistance level 1749.00 – the breakout of which will open the way for further gains toward 1780.00 (target for the completion of the active impulse wave (3)).