Gold price is trading at $1,778. Trend remains bullish as price continues to respect the upward sloping channel since $1,677. A reversal below $1,770 will be the first sign of weakness and the start of a Gold pull back.


Green lines – bullish channel

Gold price has short-term resistance at $1,783. Bulls need to recapture this level in order to push higher to new higher highs towards $1,806. If price breaks out of the bullish channel and price falls below $1,770, then we should expect more weakness to follow and price to fall towards $1,740-$1,720. For now trend remains bullish and bulls in control. Price is very close to key support and trading conditions favor bullish exposure.

The material has been provided by InstaForex Company –

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.