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15.10.202115:44 Forex Analysis & Reviews: Gold get's rejected at major resistance trend line.

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?

Exchange Rates 15.10.2021 analysis

Blue line - resistance trend line

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.

*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.

Alexandros Yfantis,
Analytical expert of InstaForex
© 2007-2021
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