FX.co ★ Gold 12.23.2019 - Breakout of the supply trendline, buying opportunities preferable

Technical analysis:

Gold has been trading upwards in the past 24-hours. I found the breakout of the key supply trend line and potential for further upside. There is also completion of the major ABC downward correction. Watch for buying opportutniies with the main target at $1.515.

There is the up gap which is holding and the breakout of the supply trend line, which is sign that buyers are in control.

MACD oscillator is showing new momentum up on the last rally, which is good confirmation for our bullish view.

Resistance level is seen at price of $1.486 and at $1.515

Support levels are set at the price of $1.481 and $1.475