Gold has been rising steadily in the last few trading sessions – in line with our earlier forecast for this instrument . The price is currently approaching the resistance area located between the key resistance level 1756.00 (top of the previous impulse wave (1)) and the 38.2% Fibonacci correction of the previous downward impulse from the end of January. If gold manages to break above the aforementioned resistance area – the price can then rise further toward the next resistance level 1775.00 (50% Fibonacci correction of the downward impulse from January). Alternatively the price can correct down to 1725.00.