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.

analytics5f85b251ed24b.jpg

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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