Gold is trading under new multi-month high ahead of Fed minutes

Spot gold was up and down within almost $40 range on Wednesday but keeps overall bullish bias, ahead of the minutes of Fed’s Apr 27-28 policy meeting to gauge the central bank’s stance on interest rates.
The yellow metal, which is used as a hedge against inflation, advanced nearly 10% in past two months, lifted by weaker dollar and rising expectations that consumer prices will eventually pick up.
Larger bulls are firmly in play and hit new over five-month high at $1890 today, pressuring important Fibo barrier / weekly cloud top at $1892 and psychological $1900 level, break of which would expose $1922 (Fibo 61.8% of $2074/$1676 fall).
Bullish daily / weekly studies support the action, which may take a breather on strongly overbought stochastic, with dips expected to hold above broken 200DMA ($1846) and keep larger bulls intact.

Res: 1890; 1900; 1922; 1959
Sup: 1875; 1852; 1846; 1828