Gold surged to new 7-year high as lifted by broad based weakness in Dollar. The correction from 1703.28 has completed early than expected at 1451.16. Break of this resistance confirms up trend resumption.
Outlook will stay bullish as long as 1644.67 resistance turned support holds. Next upside target is 100% projection of 1451.16 to 1644.67 from 1567.78 at 1761.29.
In the bigger picture, the strong support from 55 week EMA displays clear medium term bullishness. A take on 1920.70 high would likely be seen next.
