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.
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