Gold price is trading below $1,900 just on top of critical support levels. Price is still above the short-term upward sloping supper trend line and as long as it holds above it we remain optimistic. Gold is now at $1,895 and we prefer to be short-term buyers with stops placed at $1,882.
Blue lines – bullish channel
Green rectangle – support/stop loss
Red rectangle – target
I’m bullish Gold at current levels with stops placed at $1,882 and a target of $1,950-60. If price breaks below the green support area then I expect price to fall even further towards $1,850 and lower. Bulls need to continue making higher highs and higher lows.
The material has been provided by InstaForex Company – www.instaforex.com
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