FX.co ★ Analysis of Gold for June 07,.2019

Gold has been trading upwards exactly like we expected. The price tested the level of $1.344. The momentum is still very strong and we expect more upside to come. Watch for buying opportunities.

White lines – Trading range with the resistance at $1.344

Red horizontal line– Projected upward target in case of the upward break

We found strong push and new momentum on the upside on the MACD indicator, which is sign of the strong demand. The Gold didn't have power for any larger downward correction, which is another sign of the underlying strength on the Gold. Daily support level is found at the price of $1.324 Projected target is set at the price of $1.361. Watch for buying opportunities on the potential break of $1.344.