Up $20 at 1811.
The price of gold is trading up around $20 and at its highs for the day at $1811.44. The high price reached $1811.81 over the last few minutes.
Looking at the hourly chart, the price has entered into a swing high range between $1810.03 $1813.94. The low price today found support buyers near its 100 hour moving average (blue line in the chart above). Holding that level and pushing above the $1800 level helped to open the door for further upside momentum.
Taking a broader look at the daily chart, the price this week traded above and below its 100 and 200 day moving averages (blue and green lines at $1785.65 and $1790.13 respectively).
However, the run to the upside today has now taken the price away from those levels.
On further upside momentum, the $1834 area would be targeted (see red numbered circles. Break above that ceiling and the door opened for further upside momentum.
