FX.co ★ Analysis of Gold for June 05,.2019

Gold has been trading sideways in pat 10 hours but we still see more upside potential. Gold found intraday balance at $1.335 but the break of the $1.337 would confirm further upward continuation

Blue rectangle – Resistance $1.345

Gray rectangle- Resistance 2 ($1.361)

White lines – Balance range

Strong demand for the Gold caused increase in upward momentum and very stable Gold. Our advice is to watch for buying opportunities. The brekout of the $1.337 would confirm further upward continuation with potential targets at $1.345 and $1.361. Support levels are seen at the price of $1.332 and 1.326. MACD is in positive teritory and Stochastic oscillator did up flip, which are all signs of further upward movement.