Gold surged further yesterday. The week began at 1808 early in the trading day, and the price was bounded within 1810-15 throughout the Asian & European session. Gold broke out from the key 1815(1) resistance during the US session, ended up touched day-high near 1823 with the day closing at 1820, up by USD 12.

The current resistance trend line(2) can be used as a reference for the current uptrend. After the US session yesterday, expect a few selling resistance near 1824 in S-T, and the target 1828 mentioned yesterday is still valid.

The surge yesterday has basically responded to the bullish signal from last Thursday and Friday(4). Until a reversal signal occurs in the daily chart, expect the gold continues to ride the momentum upward.

S-T Resistances:

1835

1826-28

1820

Market price: 1818

S-T Supports:

1815

1808

1800

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