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12.05.202119:16 Forex Analysis & Reviews: Gold could see $1,800 before continuing higher.

Gold price remains in a bullish trend. Price is trading at $1,822 and a pull back towards $1,800 is justified and would not cancel the short-term bullish trend it is in. As long as price is inside the short-term bullish channel, there are increased chances of reaching $1,870.

Exchange Rates 12.05.2021 analysis

Blue lines - bullish channel

Green lines - bearish channel

Gold price is turning lower after touching the upper channel boundary. Support by the bullish channel is at $1,800 and we could see price move towards that level. Testing the $1,800 level is justified and wanted as it could prove to be a back test of the previous resistance now support and at the same time provide new fuel for the up trend.

*Analisis pasar yang diposting disini dimaksudkan untuk meningkatkan pengetahuan Anda namun tidak untuk memberi instruksi trading.

Alexandros Yfantis,
Ahli analisa
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