FX.co ★ Gold continues sideways

Gold price has not managed yet to break above the key resistance at $1,750-60. Price remains below a short-term trend line resistance and is mostly moving sideways, for the last 10 days, inside a trading range.

Red line - major resistance

Green line - support

With a lower boundary around $1,720 and a higher boundary around $1,740, price is moving sideways since March 11th. Traders need to be patient and wait for price to at least break out of this short-term price range. As long as price is below the red downward sloping resistance trend line, bears will remain in control of the trend.