Gold has been trading with the strong up momentum. Anyway, we still expect more upside on the Gold with light pullbacks. You should watch for buying opportunities on the downward correction.
Yellow rectangle Daily swing high $1.323
Blue rectangle – Daily swing high 2 $1.345
White line – Upward sloping trendlinge (support)
According to the H1 time-frame, we found that there is strong upward momentum. The MACD oscillator is showing real upward power and that light downward corrections are sign of the strong market. Our advice is to watch for potential pullback to the middle of the bolinger bands on M30 or H1 and go for long. Upward targets are set at the price of $1.323 and $1.345. Intraday support is seen at the price of $1.308.
