Gold bulls target $1,855.

Gold price continues to move sideways in a consolidation phase just above the $1,800 price level. If Gold price manages to recapture and stay above $1,815, then we should expect Gold price to continue higher at least towards $1,855.

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Green lines - bullish flag

Red lines- Fibonacci extensions

Gold price is trading at $1,807. Price is making a consolidation after an upward move. This has formed a bullish flag pattern and if price manages to break out of the flag, we will get then a bullish signal. Support is found at $1,790. Bulls do not want to see price break below $1,790 support.

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

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