Gold dipped notably after hitting 1831.66, following Dollar’s rally. But Gold remains resilient so far, holding above 1789.31 support, and it’s back above 1800 handle. Further rally is still in favor and break of 1831.66 will resume the rally from 1752.32 towards 1877.05 resistance next.
Nevertheless, we’re still seeing Gold as being a leg inside the range pattern from 1676.65. While a break of 1877.05 cannot be ruled out, we’re not seeing much chance of breaking through 1916.30 medium term resistance. Meanwhile, break of 1789.31 support will argue that fall from 1877.05 is probably ready to resume through 1752.32.
