GOLD ANALYSIS: Trendline break and bullish structure
Gold is trading in a daily bullish channel and managed to break above a short-term falling trendline.
1,700 remains a key support, and 1,725 a key short-term support. The 1-hour candle shows that sellers are rejecting lower price at the moment which could the price higher.
The recent peak on the 1-hour chart also broke the previous bearish structure, signaling at more strength.
1,700 remains a key support, and 1,725 a key short-term support. The 1-hour candle shows that sellers are rejecting lower price at the moment which could the price higher.
The recent peak on the 1-hour chart also broke the previous bearish structure, signaling at more strength.
