Gold loses momentum – Analysis - 22-05-2018
Economies.com
2018-05-22 01:12AM UTC
Gold price price provided positive trading in the previous sessions to settle above 1285.90, but we notice that stochastic loses its positive momentum clearly to enter the overbought areas, while the EMA50 forms continuous negative pressure against the price.
Therefore, these factors encourage us to continue suggesting the bearish trend that depends on holding below 1301.20, reminding you that the next main target is located at 1267.00.
Expected trading range for today is between 1270.00 support and 1305.00 resistance.
Expected trend for today: Bearish
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