Gold hits the targets 20/05/2013

Gold price opened this week with a decline surpassing 1350.00, opening the way towards more bearish trend on the intraday basis, waiting for 1300.00 as a next main station.

The price might be forced to some temporary bullish bias which is affected by Stochastic positivity before resuming the overall bearish trend, which will remain valid and preferred unless breaching 1385.00 and holding above it, where this breach will lead to recovery attempts that might reach towards 1410.00 and extend to 1447.00

Expected trading range for today is between: 1300.00 support and 1370.00 resistance.

Expected trend for today: Bearish