Heading North

• RES 4: $1916.6 - High Jun 1 and a key resistance
• RES 3: $1909.7 - High Jun 3
• RES 2: $1903.8 - High Jun 8
• RES 1: $1868.7/1877.7 - High Nov 10 / High Jun 14
• PRICE: $1853.6 @ 07:10 GMT Nov 11
• SUP 1: $1822.4/1799.2 - Low Nov 10 / 20-day EMA
• SUP 2: $1789.0/1759.0 - 50-day EMA / Low Nov 3 and a key support
• SUP 3: $1746.0 - Low Oct 6
• SUP 4: $1721.7 - Low Sep 29 and the bear trigger

Gold rallied sharply higher yesterday. The move higher resulted in a clear break of resistance at $1834.0, Sep 3 high. The breach of this hurdle reinforces current bullish conditions and paves the way for further upside. Note too that the yellow metal has also breached $1863.3, 76.4% of the Jun - Aug sell-off. The focus is on $1877.7 next, Jun 14 high. Support is seen at f $1822.4, yesterday's low.