Gold continues to rise after the earlier breakout of the resistance trendline of the daily up channel from the end of March – as can be seen from the daily Gold chart seen below. The breakout of this up channel continues the active medium-term impulse wave (5). Given the strong uptrend that can be seen on the daily charts – Gold is likely to extend the gains toward the next round resistance level 1900.00 – the breakout of which can lead to further gains toward the resistance level 1950.00.