End of day analysis for Gold 22-05-2017

Gold price traded with clear positivity to end the day above 1259.00, which puts the price inside the bullish channel again, to stop the correctional bearish pressure that dominated the recent trading and pushes the price to regain its main bullish trend again.

Therefore, the bullish trend will be expected in the upcoming period supported by the EMA50, noting that the next target is located at 1295.37, while the suggested rise will remain active unless breaking 1254.56 level and holding below it.