Gold found decent support at the price of $1.464 (middle of the Bollinger band) and the recent balance area. I do expect further upside and potential for re-test of $1.473 and $1.481. Watch for potential buying opportunities
MACD oscillator is showing that slow line is rising and that buyers are in control.
The cause of the most recent upside move on the Gold is big bullish divergence on the MACD in the background and momentum lost from sellers.
Support levels are seen at the price of $1.464 and $1.460. Resistance levels are seen at the price of $1.473 and $1.481.
The material has been provided by InstaForex Company – www.instaforex.com
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