In previous posts last week we noted the importance of the $1,790-95 support zone and the bullish channel we were in. Also we noted that we are bullish around $1,790 as support was held and we were expecting a test of the triple top at $1,815 area.
Black lines upward sloping - bullish channel
Black line downward sloping -resistance
Blue rectangles - triple top
Green rectangle -short-term support
Gold price is breaking above the triple top formation at $1,815 and above the black downward sloping resistance trend line. At the same time price hold above the green rectangle support area and remains inside the bullish channel. Support remains key at $1,800. Next target and resistance at $1,830.
