FX.co ★ Gold 08.26.2019 -Gold follows our expected path and there is still more space for upside

Gold price had a nice push higher and our second upward target from Friday was met at the price of $1,527. Anyway, I still expect more upside and at least another upward swing. Key support at the price of $1,525.00 held successfully, which is good positive sign for further upside continuation.

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 $1,525 and resistance at $1,554. Bears need to be very cautious as there is strong upward momentum in the background and potential buying the deep type of feeling. As long as the Gold is holding above $1,525 there is a chance for potential test of $1,554..