Gold has been trading upwards as I expected. The price tested the level of $1.414. The oscillators is showing us the new momentum on the upside and I still expect more upside to come. Key resistance is set at the price of $1.433.
Blue rectangle – Important resistance
Orange rectangle – Support
Black lines – Upward Pitchfork channel
New momentum up on the MACD oscillator is showing us strong conviction to the upside. The Gold is near my critical resistance at the price of $1.433 so there is still a small space for trading on the upside. The trend is very bullish and you should watch for buying on any pullback. The level of $1.381 seems like short-term support and I will pay big attention cause as long the Gold is trading above the support, I will remain bullish.
