Gold: ⬆️ Buy
- Gold reversed from key support level 4547.00
- Likely to rise to resistance level 4800.00
Gold recently reversed up from the key support level 4547.00 (former resistance from the end of December, acting as support after it was broken).
The upward reversal from the support level 4547.00 created the daily Japanese candlesticks Hammer.
Given the strong daily uptrend, Gold can be expected to rise to the next resistance level 4800.00 (target price for the completion of the active impulse wave (C)).
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