With continued bullish build on its recovery started from the 1,532.90 level in progress, further bullish offensive is likely towards the 1,800 level, its psycho level. A decisive clearance of here will call for a move higher towards the 1,827.85 level, its Sept 19'2011 high. Further out, resistance comes in at the 1,862 level. Its weekly RSI is bullish and pointing higher supporting this view. Alternatively, on any pullbacks, the 1,693.95 level should come in as support. We expect a reversal of roles as support to occur at this level and then turn the pair higher again. However, a breach of the 1,693.95 level could see the commodity weakening further towards the 1,595.75 level and then the 1,532.90 level, its Sept'2011 low. All in all, Gold remains biased to the upside in the short term with eyes on the 1,800/27 levels.
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