Gold inclined yesterday affected by the PRZ-potential reversal zone- of the bullish harmonic pattern appearing obviously on the above chart as we predicated yesterday-check it here- by placing a temporary high at 888.00. Now as it succeeded to hit 38.2% Fibonacci level of the entire rally started at 679.00 and topped out at 1006.00 we expect this upward actions to continue particularly if it succeeds to breach the upper line of the descending channel while Tenkan-sen (moving average of Ichimoku indicator) - currently located at 876.00- and SMA 50 is moving below the current candle stick supports the action. Carefully note that high volume is needed to activate this highly anticipated bullishness.
The trading range for today is among the key support now at 845.00 and key resistance now at 935.00.
The general trend is to the upside as far as 820.00 remains intact with targets at 1035.00 and 1060.00.