Gold is stable – Analysis - 26/05/2015

Gold price trading settles near 1205.00 level, therefore, we believe that the chances valid for resuming the bullish trend on the intraday basis, waiting for testing 1225.00 level initially, which breaching it represents the extension key for gold gains to reach 1244.00 then 1268.00 levels.

The EMA50 and negativity of stochastic form obstacle now against resuming the bullish trend, it is important to be aware that breaking 1205.00 and 1202.00 levels and holding below them will stop the suggested positive expectations and pushes the price to head towards 1181.00 before any new positive attempt.

Expected trading range for today is between 1190.00 support and 1230.00 resistance.

Expected trend for today: Bullish