Midday update for Gold 24-05-2017
Economies.com
2017-05-24 10:24AM UTC
Gold price settles below 1254.56, which keeps the bearish bias suggested for today, and the price needs to break the neckline of the double top pattern mentioned this morning at 1246.00 to confirm the continuation of the decline in the upcoming sessions, which targets testing 1229.32 level mainly.
Therefore, the bearish overview will remain valid and active unless the price managed to rally bullishly to breach 1254.56 followed by 1261.00 levels and hold above them.
Expected trading range for today is between 1230.00 support and 1261.00 resistance.
Expected trend for today: Bearish
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