Gold has moved to a fresh monthly trading high after bulls finally broke past the technically important $1,890 resistance zone on Tuesday. The $1,910 level is the next major upside target, however, the $1,970 level appears to be the larger target for the yellow metal. The bigger picture for gold shows that a breakout from a large falling price, with $200.00 of upside potential is currently in play.
XAUUSD is only bullish while trading above the $1,870 level, key resistance is found at the $1,910 and the $1,940 levels. If XAUUSD trades below the $1,870 level, sellers may test the $1,860 and $1,845 support levels.