FX.co ★ Short-term technical analysis on Gold

Gold price is trading around $1,810. Price remains in a bullish trend making higher highs and higher lows. Price continues to respect the support trend line but in order for the up trend to continue, bulls will need to break above $1.833.

Red line - resistance

Bulls need to break the horizontal resistance at $1,833. If this happens, Gold will approach the bull flag target of $1,855-60. Support is at $1,800-$1,805. Breaking below this level will be a sign of weakness. This could lead to a deeper pull back towards $1,770-60.