Black lines- trading range
Gold price continues trading around $1,790-$1,800. Price is moving sideways during the last three trading sessions. Trend remains bullish as no important support has been broken yet. Gold price is trapped inside a short-term trading range between $1,782 and $1,801. There are signs that a reversal is imminent and bulls need to be cautious. There are many technical reasons to justify a pull back towards $1,750. However no reversal confirmation yet. Traders need to remain patient and watch for a break out of the trading range.