Gold surges to as high as 1883.12 so far today. Break of 1875.27 resistance confirms resumption of whole rebound from 1764.31. Further rise is now expected as long as 1844.78 support holds. Next near term target is 61.8% projection of 1764.31 to 1875.27 from 1819.05 at 1887.62. Break will target 100% projection at 1930.01.
More importantly, the strong break of 55 day EMA reaffirms the bullish case that correction from 2075.18 has completed with three waves down to 1764.31. Break of 1965.50 resistance would resume long term up trend for new record high.
