Gold price breaks above key trend line resistance and targets $1,950

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Gold price breaks above key trend line resistance and targets ,950

Gold price breaks above key trend line resistance and targets $1,950

Gold price has broken the resistance trend line at $1,913 and continues making higher highs and higher lows. Price has respected support at $1,880 and now is challenging new short-term higher highs.

Gold price breaks above key trend line resistance and targets ,950

Red line – resistance trend line

Green rectangle -support

Blue rectangles -targets

Gold price could start a new upward move with $1,950 as first target and $1,985-$2,000 as the second target area. Price has support at $1,880 and as long as price is above that level, bulls remain in control of the trend.

The material has been provided by InstaForex Company – www.instaforex.com

Source : https://www.mt5.com/forex_analysis/quickview/190969/