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Gold trading witnessed positive movements during the previous trading session within the bullish path, as we expected, surpassing the target required to be achieved at 1882/1883, recording the highest of 1896.
Technically speaking, the pair is based above the previously breached resistance-into-support at 1875/1773 and this considered as a positive factor, in addition to the continued support of the 50-day moving average for the prices upward curve of.
From here, gold prices may continue to rise, provided that the breach of 1899/1900 is confirmed, because this is a catalyst that enhances the chances of the rally towards 1915 and may extend to 1925 later.
A reminder that the activation of the bullish scenario requires an intraday stability above 1875, and price stability below it postpones the bullish chances, but does not cancel them, and forces gold to retest 1850 before rising again, and in general, we continue to favor the upside as long as trading remains stable above 1833, correcting 61.80%.
| S1: 1865.00 | R1: 1899.00 |
| S2: 1845.00 | R2: 1915.00 |
| S3: 1833.00 | R3: 1933.00 |
