Gold flirting with psychological resistance ( year 2013) and looking 2011 year resistance?
|- Gold is has surpassed $1,817, the highest since 2011 Resistance.
- Gold Correction Required downside before looking the Year 2011 Resistance 1905$.
Gold has been trading upwards and we got a continuation of the bigger upward trend. Since the Gold did break of $1,760 there is potential for the bigger rise towards the $1,815 ( 2013 Year Resistance)
Gold has resumed the bullish movement and now is pressuring the $1,815 level Crossing 2013 Year Resistance if price hold above 1815$ and stable that's confirmation of break out the 2013 Year Resistance.
Technically, the price is expected to take out this obstacle and to approach and reach fresh new highs. The uptrend was confirmed by several retests of dynamic support, I believe that only a significant reversal pattern on the $1,825 could send the quote down again for big correction for looking 2011 Year Resistance 1905$ later this year.
The last bullish candle has signalled a further increase, but we still need confirmation, so maybe you should wait for a valid breakout above the $1,817 psychological level before going long with a target at the upper 1830$ and 1846$
SUPPORT/RESISTANCE
✅S1= 1785$
✅S2=1750$
✴️R1=1815$
✴️R2=1825$
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