Gold is now in upside acceleration, as seen in 4 hour MACD, as rise from 1764.31 resumed. Further rally is expected as long as 1856.98 support holds, even in case of retreat. Next target is 1965.50 resistance.
Also, we’re holding on to the bullish view that correction from 2075.18 has completed at 1764.31 already. Firm break of 1965.50 will pave the way to retest 2075.18 high. Momentum after taking out 1965.50 will reveal the likelihood of up trend resumption. In the bullish case, next target will be 61.8% projection of 1451.16 to 2075.18 from 1764.31 at 2149.95.
