Gold struggles at $1.740.

Gold price is trading around $1,740. Price has still not gotten clear of the short-term resistance of $1,740. Gold bulls need to continue pushing price higher and to defend $1,720-30 level in order to continue higher towards $1,780-$1,800.

Blue lines – bearish channel

Gold price has bounced off the horizontal support and previous low of $1,677. Price has reached the resistance area of $1,720-40. Continuing higher, bulls could manage a push towards the upper channel boundary near $1,780 area. In the near term, a move below $1,720 will be a sign of weakness for bulls.

The material has been provided by InstaForex Company – www.instaforex.com

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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