Gold recently reversed up with the daily Morning Star from the support zone lying between the key support level 1550.00 (former resistance from August, which stopped the previous wave 2), lower daily Bollinger Band and the 38.25% Fibonacci correction of the previous sharp upward impulse wave 1. Given the strength of the aforementioned support area and the clear uptrend visible on the daily Gold charts – Gold is likely to extend the gains toward the next resistance level 1590.00 (top of the previous impulse wave (i)from the end of January).