FX.co ★ Trend line analysis on Gold

Gold price has broken above the resistance trend line. Support at the blue rectangle area has been respected and price continues to make higher highs and higher lows. It is important for the short-term trend for bulls to hold above $1,800-$1,790.

Green line- support trend line

Black line -resistance trend line

Gold price remains in a bullish trend. Price is breaking above the recent triple top and sideways price action. This is a bullish sign. The latest blue rectangle is now key short-term support and should not be broken to the downside if bulls want to continue to the upside. Breaking below this last blue rectangle and the green trend line support will open the way for a bigger pull back.