July 06, 2020
Spot gold trading at around $1775 and is likely to break resistance at $1778.
The resistance is identified as the 100% projection level of an upward third movement from $1703.83. This move is likely to visit range of $1806-$1824.
On the daily chart, the gold managed to keep itself up from a support at $1767. It may rise to next resistance at $1796 and go beyond $1800.
Support is at $1760, a break below which could signal a reversal of the uptrend. A bearish target of $1741 will be established accordingly.
