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Gold price is climbing higher after the pull back towards $1,800. Price back tested the support around $1,800 as expected and is now continuing its upward move. Trend remains bullish as we said many times as long as price is inside the upward sloping channel.
Blue lines - short-term bullish channel
Gold price continues to trade inside the upward sloping blue lines forming the short-term bullish channel. Trend remains bullish. Support is at the recent low of $1,808. Channel support is found at $1,795. As long as price holds this lower boundary, trend will remain bullish. The RSI has not still reached overbought levels and there is no warning from a bearish divergence. There is no sign of reversal or imminent trend change. Gold is heading towards $1,860-$1,870.
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