Gold finally did upside breakout of the symmetrical triangle that I was mentioning in recent few days. My advice is to watch for buying opportunities on the pullback with the target at 1.517.
Orange rectangles – Broken resistance became support
Purple lines – Broken symmetrical triangle
Rising purple line – Expected path
MACD is showing new momentum up, which is good sign for the further upside continuation. Support level is now set at the price of 1.496 and the major resistance at 1.517. Watch for first pullback after the breakout and try long opportunities.
