Gold - Breakout Resistance area 61.8% ? May send Gold to $ 1781
The Gold rise during the geopolitics tension between Iran and US last previous week and endured on retracement 61.8% - TF-Monthly. Potential correction may happen if the price fail to do breakout and potential support level $ 1506.9, may the last support area to continue the bullish trend on Gold. Once Gold does breakout the resistance area Approx $ 1600.6 after the correction pattern, Gold may continue the uptrend movement till $ 1781 - Retracement 88.6% - TF Monthly (Double Top). The geopolitical may still continue and Iran's retaliation won't let the geopolitical tension ease easily.
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