Gold surpasses Resistance.... What Next....?


Supported by 1800 handle Gold stood firm breaching through long contested 1830-1835 after bulls made up their mind to go above 1825 (38.2% fibonacci level)
The metal gained heat veering through 1830-1835 supply zone and reached 1848 supported by strong Stochastic across Daily, Weekly and Monthly charts.

On small and short term, Gold may take small break and start some sideways consolidation between 1843-1836 before any significant move.

Trade below 1836 may push Gold down toward horizontal support 1830 and next to retest 1825 ( 38.2% Fibonacci level ) and weakness below this level may extend correction to 1818 and 1813.

Strong momentum above 1836 and consolidation above 1843-1848 may resume Gold's bullish move with next target 1860 ( 23.6% fibonacci level).

As long as Gold holds above 1825, look for 1860 as next major target above which 1880 & 1899  will be in focus.

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