Gold bulls are defending the key pivot level of $1,850. Price has pulled back towards the trend line support. Staying above it will increase chances of a new upward move that could bring price towards $1,905.
Blue line - bullish divergence
Blue rectangle - blue target
Gold price is challenging short-term support. We believe there are more chances of an upward move than a break below $1,850-40 support area. Our target remains for the short-term at $1,900. Breaking below support will open the way for a move below $1,800.
