Gold price is still holding well support at the price of $1,525, which is good sign for further upside. I still expect more upside and at least another upward swing.
Red horizontal line – Important resistance and upward objective
Yellow rectangle - major support area
Purple rising line – Expected path
MACD oscillator is showing good new momentum up in the background and the fresh new momentum just started to pick up.I do expect at least another push higher. Key support is at $1,525 and resistance at $1,554. Bears need to be very cautious as there is strong upward momentum in the background and potential buying the deep type of feeling. As long as the Gold is holding above $1,525 there is a chance for potential test of $1,554. Additionally, I found rising support trend line, which is another good sign for further upside.
