Gold recently reversed up from the support area lying between the key support level 1716,00 (former strong resistance from the end of April and the start of May) and the 50% Fibonacci correction of the previous upward impulse from the start of May. The upward reversal from this area continues the active impulse sequences (v) and 3. Given the clear uptrend that can be seen on the daily charts – Gold is likely to rise further toward the next resistance level 1765.00 (top of the previous impusle wave (i))
