FX.co ★ Gold analsys for 01.06.2020 - Upside gap is holding, main target at the price of $1.600 is on the way

Gold has been trading upwards with strong momentum as I expected last week. The price reached our first upward target at the price of $1.560 and it is heading for test of $1.600. I found big gap on today's opening and seems that gap is holding well, which is another sign for the further upside.

Watch for buying opportunities on the dips...

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 $1.600 and $1.610.

Support gap zone is set at $1.559-$1.551