Updating our previous analysis, the metal breached the resistance for the sideways wave at 1602.00 which is the neckline for a bullish pattern. The breach was successful alongside series of stability and daily closings above the mentioned resistance signaling the resumption of the general upside trend after settling for 23.6% correction of the complete bullish wave from 745.00 to 1752.50. 
We expect some fluctuation and volatility with a downside bias utmost to retest the 1602.00 before resuming the upside wave. The main target resides at the previous top at 1752.50 which is the margin for returning to the main ascending channel previously breached for correction. The metal might face strong resistance at those areas before resuming the bullishness. Note that breaching 1602.00 and stabilizing below it will weaken the expected bullishness and might extend the downside correction.
By: Yasir Mubarak
Senior Technical Analyst
yasir.mubarak@ecpulse.com
www.ecpulse.com