TP : 1500
Gold prices broke out hitting fresh 18-months highs and closing near 1,359. Support is seen near the former break out level at 1,346. Resistance is seen near the 1,370-1,375 region and then 1,392, and up to 1,423. Short term momentum has turned positive as the fast generated a crossover buy signal. The current reading on the fast is 86, above the overbought trigger level of 80, which could foreshadow a correction. The ( ) which is a momentum oscillator also broke out which reflects accelerating positive momentum. The current reading on the is 75, above the overbought trigger level of 70, which could foreshadow a correction. The histogram is printing in the black with an upward sloping trajectory which points to higher prices.