Gold witnessed an increase from 1739.53 to settle around 1778.20 levels. Stability in trading above the mentioned level may be a strong reason to strengthen the bullish trend to reach the initial resistance level 1779.20
And in case our expectations are reversed, we must take 1777.20 as a stop loss area
By reading the gold chart, it is clear to us that the pair traded above the three moving averages (7, 14, 21 4 hours) and the relative strength index confirms the dominance of buying forces over gold, from which we expect gold to rise to 1779.20 levels
Resistance: 1779.20
Support: 1777.20
Pivot: 1787.63