Gold price succeeded to breach above the critical resistance level of 1598.00 –neck line of a double bottom pattern- and 1602.00 level –resistance level of the downside channel-, all shown in the image below.

These breaches besides settling above the EMA50 are technical factors that argue me to expect an upside trend in the coming sessions, mainly targeting retesting the previously breached support level of the main uptrend which turns now into resistance at 1656.00

We need to take into consideration that achieving the expected bullish trend requires two main conditions: first to breach above 1629.00, and second to hold above 1598.00

Trading range expected for week between 1598.00 support and 1670.00 resistance.