Gold: Update: Testing First Key Resistance

FX:XAUUSD   Gold Spot / U.S. Dollar
1398 3 13
Gold             extended the strong upside hitting 1325.00 resistance level . The price lands at a key resistance area among 1325 horizontal resistance and 0.618 Fibonacci retracement at 1336 along with the projected resistance of a a potential rising channel . I would be a bit cautious at this area anticipating a possible pullback.
However, overall strong bullish breakout mode is dominant, and accordingly we will probably see higher levels towards the full target at 1360.000 areas.

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i expect first a correction at the level of 1296 then 1342
after 1342 again correction this time at the level of 1325
after all this we wiil see 1363 an more (1385)
Maybe worth to buy 37 days Put spread @ 1305 / 1275 as a correction trade. For more agressive traders with 1:2 ratio, since after the pull back I think the bullish trend is likely to continue.
Took profit, will wait and see if price breaks resistance.

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