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Expert In



Gold remains support with more upside potential.

Gold price made new lower lows last week but the RSI has managed to produce another bullish divergence. Gold price remains technically in a bearish trend and there is still no confirmed upward reversal.


Green line - major support trend line

Support is at $1,764. Resistance is at $1,787 Bulls need to break above $1,787 and eventually recapture $1,800 and stay above it. Gold is at important Fibonacci support levels where we usually see trend reversals. At current levels I prefer to be neutral if not bullish Gold.

The material has been provided by InstaForex Company -