Gold has extended its rally post $1800 levels and nearly reached its proposed resistance zone around $1820/25. Please note the above is also fibonacci 0.618 retracement of the recent drop between $1855 and $1760 respectively. Further, trend line resistance since $1965 is also seen to be passing through the above zone. High probability remains for a bearish reaction if bulls manage to push higher to $1820/25 mark. If Gold breaks higher and above $1855, the alternate count W-X-Y would come into play.
Short against $1965, towards $1650 and lower.
Short against $1965, towards $1650 and lower.