Gold price is getting rejected at the triple top resistance area around $1,815. Price is pulling back towards short-term support at $1,795. As we explained in a previous analysis, short-term trend remains bullish as long as price is above $1,795-90 area.
Blue rectangles- triple top
Black line -resistance trend line
Gold price is challenging short-term support at $1,795 area. Breaking below this support will make price vulnerable to a move towards the dark green support area around $1,750. Price has been mostly moving sideways the last few sessions. This is most probably a pause in the bigger upward trend. Price is now close to key support favoring short-term traders to open long positions as the risk is low and the upside potential big.
