Gold under the strong bullish pressure after the price broke the resistance zone lying between the round resistance level 2000.00 and the resistance trendline of the daily up channel from the start of February. The breakout of this resistance zone accelerated the active impulse waves 3 and (3).

Given the strong daily uptrend and the rising demand for oil due to the decision of USA to embargo oil imports from Russia, Gold can be expected to rise further toward the next resistance level 2080.00 (target price for the completion of the active minor impulse wave 3).