Spot gold jumped to four-day high ($1918) on Monday as dollar fell across the board on optimism over a new US stimulus package before presidential election next month.
The yellow metal rose after directionless mode last Thu/Fri, signaling continuation of the upleg from $1882 (14 Oct trough).
Fresh advance cracked daily cloud base ($1916), attracted by narrowing cloud which will twist next week.
Bullishly aligned daily studies are supportive as bulls look for initial signal on penetration and close within the cloud, with extension above pivots at $1933/35 (12 Oct high / Fibo 38.2% of $2074/$1848 / 55DMA) to confirm bullish signal and expose next pivotal barrier at $1948 (daily cloud top).
Sideways-moving 20DMA ($1894) marks pivotal support, loss of which would sideline bulls.
Res: 1918; 1925; 1935; 1948
Sup: 1902; 1894; 1889; 1882
