Gold price continued its upward movement towards a new higher high at $1,272.50. The trend remains short-term bullish as long as price is above $1,257. Gold is expected to pull back towards $1,245 at least and then resume its upward move.
Red line - short-term support
Gold price is trading above the Kumo (cloud) confirming a short-term bullish trend. Price has also broken above the downward sloping black trend line resistance. Now I expect a pullback to test at least the 38% Fibonacci retracement.