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15.07.202016:36 Forex Analysis & Reviews: Short-term technical analysis of Gold for July 15, 2020.

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Gold price remains in a bullish trend. Gold is testing a triple top short-term formation while inside the bullish channel. The RSI is not in overbought conditions and as long as price holds above $1,790-85 we can expect Gold to continue to new higher highs.

Red lines - bullish channel

Blue rectangles - triple top

Black line - resistance trend line

Green rectangle- support area

Gold price continues to respect the bullish channel and the higher highs and higher lows sequence. Resistance at $1,814 is confirmed three times so far as shown by the blue rectangles in the chart above. Breaking above $1,814 will open the way for a move towards $1,830. Support is important at $1,800 and next at $1,790.

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