Gold price has broken below $1,770 and outside of the bullish short-term channel. Gold price is vulnerable to a deeper pull back towards $1,750-40 area as long as price remains below resistance of $1,780. Breaking above $1,780 will add to the bullish momentum and Gold could reach next $1,800.


Green lines -bullish channel

Purple line -short-term resistance

Gold price remains in a bullish trend as long as price is above the previous important low at $1,720. Gold price is moving lower after making a high at $1,797. If Gold price turns up from current levels and breaks resistance of $1,780, we should expect price to surpass $1,800. If Gold price continues to slide lower price should find support around $1,750-40.

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.