FX.co ★ Gold analysis for 01.03.2020 - First upward objective reached at the price of $1.550, watch for second at $1.600

Gold has been trading upwards with strong momentum. The price reached our first upward target at level of $1.550. I still see more upside on the Gold and potential test of $1.600 (second target). 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 $1.554 and $1.600.

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