Gold price remains supported in the short term. A trend remains bullish with its first short-term target at the resistance level of $1,150. As long as the price trades above $1,120, bulls remain in control of the short-term trend.
Gold price is trading above the Ichimoku cloud and inside the bigger triangle pattern. Strong resistance is found at $1,150 by the upper triangle boundary. Support is seen at $1,120. If it gets broken, we could see a pullback towards $1,100 where the lower triangle boundary is found.
