Gold price had a nice push higher as I expected and our first upward target has been met at the price of $1,550. Anyway, there is still chance more upside and potential test of the second upward target at $1,565. You should watch for long positions on the pullbacks on lower frames 5/15 minutes.
Red horizontal line – First objective and resistance
Purple horizontal line – Second upward target
MACD oscillator is showing good new momentum up in the background and I do expect at least another push higher. Resistance levels are found at $1,551-$1,555 and support level at $1,533. My second upward target is set at the price of $1,565 (Fibonacci expansion 100%). The potential break with the new momentum up on the oscillator of the $1,555 may confirm further upside. I don't see any reversal and the bullish opportunities are preferable.
