Gold price as expected has reached the lower boundary of the medium-term bullish channel. Price is now shows signs of a reversal and that support is being respected. This could lead even to new 2019 highs.
Green line - major trend line support
Gold price has reached $1,484 and has started to bounce. Respecting the channel could lead to a new move higher so bulls need to start seeing higher highs and higher lows. Gold price should stay above $1,484 in order for the move higher to be confirmed. Breaking below $1,484 would be a sign of weakness.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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