• Gold rising inside impulse sequence (5)
• Further gains likely toward 1600.00

Gold has been rising steadily in the last few trading weeks inside the medium-term upward impulse sequence (5) from June. This impulse sequence belongs to the larger, multi-month impulse wave Ⓒ from the middle of 2018. The price earlier broke through the resistance zone lying between the round resistance level 1500.00 and the resistance trendline of the wide multi-year up channel from 2015 – which was preceded by the breakout of the daily up channel from 2018. The breakout of this resistance area accelerated the active impulse wave (5). Gold is expected to extend the
gains toward the next round resistance level 1600.00 (target price calculated for the termination of the active impulse sequence (5)).