16.07.202022:19 Forex Analysis & Reviews: Gold price gets rejected again at the $1,815 resistance

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Gold price is getting rejected at the triple top resistance area around $1,815. Price is pulling back towards short-term support at $1,795. As we explained in a previous analysis, short-term trend remains bullish as long as price is above $1,795-90 area.

Green rectangles -support area

Blue rectangles- triple top

Black line -resistance trend line

Gold price is challenging short-term support at $1,795 area. Breaking below this support will make price vulnerable to a move towards the dark green support area around $1,750. Price has been mostly moving sideways the last few sessions. This is most probably a pause in the bigger upward trend. Price is now close to key support favoring short-term traders to open long positions as the risk is low and the upside potential big.

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