FX.co ★ Gold in strong up trend approaches our target

Gold price continues to move higher above $1,900 making new all time highs. Gold price is approaching our second target of $1,964, There is no sign of bearish divergence by the RSI and we continue to expect price to move higher towards our target without any major pull back.

Green lines- equal size move expectations

Blue rectangle - support zone

Gold price is moving higher in a parabolic phase. This is no time to go against this trend as we said in previous posts. Target of $1,964 has been given since price broke above $1,850 area last week. The RSI had canceled the bearish divergence confirming the new higher high in price. Major support for Gold is now at $1,750-30 area. Next target after $1,964 is at $2,010.