Spot gold regained traction and rose on Friday, following a shallow dip in past two days. Near-term action has established above 200DMA that adds to bullish near-term bias, however it is still ranging between 200DMA ($1839) and $1867 (Fibo 38.2% of $1998/$1786).
The metal is on track for the second consecutive bullish weekly close, inflated by weaker dollar that adds to positive near-term tone.
Formation of 10/200DMA golden-cross and rising 14-d momentum emerging into positive territory, underpin the action, but bulls need confirmation on sustained break above $1867 pivot that will signal bullish continuation and expose targets $1886/92 (100DMA / 50% retracement of $1998/$1786) and psychological $1900 barrier.
Res: 1867; 1874; 1886; 1892
Sup: 1848; 1839; 1836; 1810
