Gold today is getting rejected as price was unable to push above $1,800. Gold traders were warned by our last analysis that price was challenging a major resistance trend line. Is this another opportunity to buy Gold?
Gold price is getting rejected from the trend line resistance. This is not what bulls would want to see however a first rejection does not mean that bulls can not break above it. Gold price has key support at $1.750-45 as we mentioned many times before in our analysis. As long as this level remains intact, bulls will have hopes. Breaking above $1,800 is key and will open the way for a move higher towards $1,850. Failure to respect support at $1,750-45 will most probably lead to a push towards $1,700 and lower.
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