Gold’s rally resumes today by taking out 1879.24 temporary top and hits as high as 1893.24 so far, just shy of 1900 handle. Further rally is now expected as long as 1844.30 support holds. Current rise is seen as part of the whole rally from 1682.60. Gold should break through 1916.30 resistance to 100% projection of 1682.60 to 1877.05 from 1752.12 at 1946.57.
Meanwhile, it should be noted that firstly, firm break of 1916.30 should confirm completion of the correction from 2074.84 at at 1682.60. Secondly, further break of 1946.57 will suggest medium term up side acceleration. In this case, retest of 2074.84 high should be quickly within reach.
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