- Gold broke round resistance level 1300.00
- Further gains are likely
Gold recently broke the round resistance level 1300.00 (which stopped the (a)-wave of the active ABC wave (iii) in the middle of June, as can be seen below).
The breakout of the resistance level 1300.00 strengthened the bullish pressure on this instrument.
Gold is expected to rise further and retest the next resistance level 1323.00 (previous monthly high from March).