Gold price, as expected, made new highs towards the upper border of the bullish channel, in which it has been since August. We will probably see a greater uptrend towards the 61.8% Fibonacci retracement. The bearish divergence mentioned in the previous posts have been canceled, so the uptrend remains strong.
Green lines - bullish channel
Maximum and minimum values of the Gold price are getting higher and higher. The price is moving to new highs and has already reached the area of $1,270. Trend remains bullish as long as the price is above the $1,250-45 area. The resistance is at $1,274 and then at $1,285-90, where there is the 61.8% Fibonacci retracement area.
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