Gold price is trading again above $1,930. Gold price has already broken above the green downward sloping resistance trend line and is now breaking above the red horizontal resistance trend line. Price action gives us a second bullish sign with price starting to form higher highs and higher lows. Gold has upside potential towards $1,960 if price remains above the $1,930 area. This could be the start of a new up trend wave. Bulls are getting stronger and getting the upper hand as well.
The material has been provided by InstaForex Company – www.instaforex.com
Black lines- bullish divergence
Green line -resistance
Red line – resistance
Gold price is trading again above $1,930. Gold price has already broken above the green downward sloping resistance trend line and is now breaking above the red horizontal resistance trend line. Price action gives us a second bullish sign with price starting to form higher highs and higher lows. Gold has upside potential towards $1,960 if price remains above the $1,930 area. This could be the start of a new up trend wave. Bulls are getting stronger and getting the upper hand as well.
The material has been provided by InstaForex Company – www.instaforex.com
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