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Gold Wave Analysis – 3 July, 2020

Gold Wave Analysis – 3 July, 2020

  • Gold reversed from support level 1760.00
  • Likely to rise to 1790.00

Gold recently reversed up from the support level 1760.00 (former resistance level which stopped the earlier impulse wave 1 in the middle of May).

The upward reversal from the from the support level 1760.00 is aligned with the active 3 different-size nested impulse waves – (iii), 3 and (3) – as can be seen below. Gold is set to rise further toward the next resistance level 1790.00 (top of the previous daily Bearish Engulfing from the end of June).

Gold Wave Analysis – 3 July, 2020


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