FX.co ★ Gold analsys for 01.02.2019 - Strong upward momentum and potential for test of $1.600

Gold has been trading upwards with strong momentum. The price tested the level of $1.530. I still see more upside on the Gold and potential test of $1.553 and $1.600.

The breakout of the consolidation last week was the key for strong demand on the Gold. My advice is to watch for buying opportunities on the dips using intraday-frames 5/15 minutes.

MACD oscillator is showing increase on the upside momentum and new high, which is good confirmation for the further upside...

Resistance levels and upward targets are seen at the price of $1.551 and $1.600.

Support levels are set at the price of $1.524 and at the price of $1.516