Gold price mostly moved sideways today holding above the short-term support at $1,415 and below resistance at $1,430. Gold price is consolidating and if support fails to hold, we should expect a move below $1,400.
Green rectangle - support
Blue rectangle- target if support fails to hold
Black line - resistance broken
Red line - trend line support
Gold price remains in a bullish short-term trend despite the recent pull back from $1,453. Price remains above the support area of $1,415-10 and above the trend line support. Gold price will move towards $1,350-60 only if this support area fails. On the other hand resistance is found at $1,430 and if broken we could expect one more new higher high towards $1,500.
