LeoPrime Daily Market Analysis

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Gold broke key resistance level 1870.00;Likely to rise to resistance level 1900.00.

Gold under the bullish pressure today after the price broke above the key resistance level 1870.00 (which stopped the previous corrections (a) and 2 in January – as can be seen from the daily Gold chart below). The breakout of the resistance level 1870.00 accelerated both of the active impulse waves 5 and (3). Given the acceleration of the safe-haven inflows into gold seen today – Gold can be expected to rise further toward the next round resistance level 1900.00 (forecast price for the completion of the active impulse waves 5 and (3).

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