Gold price had a nice push higher and I found the breakout of the symmetrical triangle together with failed HSS pattern, which is indication for the further upward prices. Watch for buying opportunities with the target at $1,551
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 I do expect at least another push higher. Key support is at $1,486 and resistance at $1,551. Bears need to be very cautious as there is strong upward momentum in the background and the breakout of the symmetrical triangle pattern. As long as the Gold is holding above $1,482 there is a chance for potential test of $1,551.
