Gold Breaks Above 1900. What Next....?

Spot Gold has tested 1901and is looking too tired and exhausted but unwilling to give up.

Stochastic reading of 92/78 shows clear bullish crossover positioned in bullish overbought territory. RSI reading 78 is extremely overbought which warns of imminent correction to support bases that range from 1878 to 1868

Breaking below 5 EMA on H4 chart at 1887 will be the first sign of weakness  followed by horizontal support and breakout area of 1878 and middle Bollinger Band 1868 where as major support lies at 1860 which is 23.6% fibonacci level and 50 EMA 1851

Consistent consolidation above 1868 - 1878 after a healthy time cycle and price correction supported by rebalancing of stochastic / RSI overbought readings will help Gold resume its next resound to further next higher targets 1908-1916. Strong triggers may extend bullish streak to reach 1950-1975

Note!
Gold's strong breakout after several failed attempts in the past ( turned to be fake outs ) and recapture of 1900 handle is mainly triggered by elevated Risk off arising from Russia Ukraine military conflict with risk of invasion threat inching closer.

Gold sits on the fence where a credible de-escalatio may dilute the risk premium to the tune of $30-$50 exposing 1870-1850 in a flash, and even 1830-1810. 

On the other hand, escalation of military conflict may push hold to 1950-1975 in no time with further potential of retest of record 2075

Overview : Traders should be very Careful while trading Gold at this choppy and delicate juncture. Watch price reaction to 1900. Consider remaining long above 1900 and cautiously short below 1900 .