FX.co ★ Technical analysis on Gold for July 11th, 2023.

Black lines- bullish divergence

Green line -resistance

Red line - resistance

Gold price is trading again above $1,930. Gold price has already broken above the green downward sloping resistance trend line and is now breaking above the red horizontal resistance trend line. Price action gives us a second bullish sign with price starting to form higher highs and higher lows. Gold has upside potential towards $1,960 if price remains above the $1,930 area. This could be the start of a new up trend wave. Bulls are getting stronger and getting the upper hand as well.