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Gold Resumes Larger Bull Trend Targeting 1788/1803 - BofA Merrill

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Spot Gold completed impulsive advance from the 1627 lows, has currently coupled with a break of month-long trendline resistance at 1708.

That technical set-up indicates that the larger bull trend is resuming, particularly given the bullish divergences in daily momentum, says Bank of America Merrill Lynch.

Thus, today's close above the break of 1727 confirms that larger bullish wave clearing the the way for the target of 1788/1803 and potentially beyond, BofA adds.

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