FX.co ★ Roller coaster Gold prices shake out short-term traders.

Red line -support (broken)

Blue rectangle- horizontal resistance

Gold price was like a roller coaster of the last few sessions. Initially providing a bearish signal with a break below $1,850 and then reaching $1,824 only to make a sharp reversal to the upside and produce higher highs. Gold price broke above the blue horizontal resistance again but this time it was again short lived. Price is back again towards $1,825 lows. Since may Gold price has made no real progress to the upside or downside. The $1,860-$1,820 zone remains intact.