Bulls very confidently broke the barrier at 1610.00-1612.00 and now they virtually have no obstacles for further growth of the gold’s quotes to 1560.00 and 1700.00.
Local upward structure has a very long trending swing that probably will trigger a development of correction from 1650.00 as market apparently will be in need of fuel for extension of such a bold uptrend.
So, we expect testing of 1650.00 and afterwards a development of downward correction of $10-15.
Longs to 1650.00 and 1700.00 (in medium-term).
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