Gold price remains in a bullish trend. Price recently tested the lower channel boundary and thus far there is no sell signal provided. Price respected the channel boundaries and bounces off support. Could Gold price move to new higher highs?
Blue lines - bullish channel
Gold price can make new higher high towards $1,920. However as the RSI warns, the up trend is weakening. The bearish divergence is an important warning that should not be ignored. Gold has support at recent low of $1,889. Breaking below this level will most probably mark the end of the up trend from $1,779. The chances of a reversal have increased.
