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Gold managed to close above $1,770 yesterday with a strong bullish candle. Although the upside move was impressive and Gold closed close to $1,800, price is now facing an important resistance trend line that should not be ignored.
Gold has resistance at $1,797-$1,800. Short-term trend is bullish as price is making higher highs and higher lows since the low at $1,721. A rejection at $1,800 would be a sign of weakness. Support remains key at $1,745-50 and as long as price is above this level, bulls have hopes for more upside. Of course a break above $1,800 if maintained, it would be an important bullish signal as well.
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