Judging from a technical point of view Gold has finally broken out of the bearish channel after completing a double bottom pattern and trading above the diagonal boundary. The first real resistance will be hit around 1800 when it meets the 100 Daily MA which coincides closely with the Weekly R1 and Monthly R2 Pivots. The next milestone would be 1810 which has been a key level in the past. From there 1860 would be another key resistance level seeing that is also where it will most likely meet with the 200 Daily MA. The current level of support would be around 1760..
