FX.co ★ Gold 12.05.2019 - Wait for the brrreakout of the mini Pitchfork channel to confirm largerr bull move

Gold has been trading sideways at the price of $1.476. I see that there is still chance for more upside in case of the upside breakout of $1.481. Upward target levels are set at the price of $1.484, $1.494 and $1,502.

Stochastic oscillator got fresh new bull cross and it seems that it is oversold condition, which is good opportunity for buyers.

Medium Pitchfork is serving us like the pest pivot and you should expect few pivots to build around ML before the next directional move. Anyway, the breakout of mini Pitchfork channel to the upside, may confirm further stronger bull move.

Support levels are set at $1.471 and $1.467.