Gold price is trading at $1,810. As expected Gold price has reversed its short-term trend to bullish. Price has broken above the $1,790-$1,800 resistance level. Price has pulled back and back tested the broken resistance now support area of $1,790-$1,800. Gold price is ready for a move higher.
Gold price is most probably starting a sequence of higher highs and higher lows. The low is most probably in and Gold price is expected to move towards $1,850 and higher. In previous posts we warned that the downside was limited as the bullish RSI divergence warned traders. Support remains key at $1,790 for the short-term. The chances of making a new low below $1,750 are now very slim if non existent. Bulls are gaining control of the trend.
