End of day analysis for Gold 19-05-2017

Gold price continues to provide positive trading to settle at the previously broken support of the bullish channel that appears on chart, and as long as the price is below this level, the bearish trend scenario will remain expected for the upcoming period, supported by stochastic lose to the positive momentum, as the main target is located at 1229.32, taking into consideration that opening next week positively and breaching 1254.56 will bring the price back to the main bullish track and stop the expected negative pressure.