Gold is looking bullish in the short-term again this Monday, after attracting strong buying demand around $1,756 support level last week. A bullish reversal pattern is still in play and is predicting that the price of gold could rally towards the $1,840 area. Gold bulls could test towards the $1,810 level in the short-term if buyers are able to breach the $1,800 resistance level this week.
XAUUSD is only bullish while trading above the $1,775 level, key resistance is found at the $1,800 and the $1,810 levels.
If XAUUSD trades below the $1,775 level, sellers may test the $1,756 and $1,740 support levels.
