Midday update for Gold 23-05-2017
Economies.com
2017-05-23 10:22AM UTC
Gold price is testing the bullish channel's support line that appears on the above chart, as the price is affected by stochastic negativity, and as long as the price is above 1254.56 level, our bullish overview will remain valid for today, as breaking this level will put the price under negative pressure that targets 1229.32 areas direct.
Now, we are waiting for positive trading for the rest of the day supported by the EMA50, reminding you that our next main target is located at 1295.37.
Expected trading range for today is between 1250.00 support and 1280.00 resistance.
Expected trend for today: Bullish
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