Gold price today is trading around $1,780 near the June highs. Price continues to respect the bullish channel boundaries and is heading to new highs. Trend remains bullish but bulls also need to be cautious.
Red lines - bullish channel
Gold price has support at $1,772. Breaking below that level will be a bearish sign. If this support fails to hold I will be expecting Gold price to retest $1,750-45 support area. Resistance remains at recent highs at $1,789. The RSI is diverging in the 4 hour chart. This is just a warning and not a bearish sign.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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