Gold finally seems to have completed the correction in wave 4 and all we need is a break above minor resistance at 1,756 to confirm that wave 4 has completed and wave 5 to above the peak in wave 3 at 2,075 is developing.
Short-term we seen support at 1,722 and of course key-support at 1,677.76 that need to be able to protect the downside. A failure at 1,677.76 will reignite wave 4 for renewed corrective downside pressure towards 1,561.
Trading recommendation:
Buy a break above minor resistance at 1,756 and place your stop at 1,677.
The material has been provided by InstaForex Company - www.instaforex.com