Gold managed to close above $1,770 yesterday with a strong bullish candle. Although the upside move was impressive and Gold closed close to $1,800, price is now facing an important resistance trend line that should not be ignored.
Gold has resistance at $1,797-$1,800. Short-term trend is bullish as price is making higher highs and higher lows since the low at $1,721. A rejection at $1,800 would be a sign of weakness. Support remains key at $1,745-50 and as long as price is above this level, bulls have hopes for more upside. Of course a break above $1,800 if maintained, it would be an important bullish signal as well.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.