FX.co ★ Analysis of Gold for June 12,.2019

Gold has been trading upwards in past 24 hours. The price price almost went to test span A of Ichimoku cloud and it failed, which is a sign that buyers are still alive. The trend is very strong on the upside so you should watch for buying opportunities only

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Red line – Tenkan-sen (support1 at $1.328)

Span A Ichimoku –Top of the cloud Support 2 ($1.325)

. The buyers are still in control on the 4H time-frame and you should only watch for buying opportunities on the dips. The level at $1.328 is providing great support for potential re-buying. The trend is very strong on the upside and you should only watch for upside. The cloud is "fat", which is signal that there is strong demand of the Gold. Additionally, we found that there is potential end of the downawrd correction (abc expanded flat), which is sign that buyers may continue with the upside. Upward targets are set at the price of $1.345 and $1.363.