Gold price awaits the breach – Analysis - 29-05-2020

Gold price begins today with bullish bias to approach the minor bearish channel’s resistance that declines now to 1725.00, and the price needs to get positive motive that assists to push trades to breach the mentioned level and open the way to resume the main bullish trend, which its next targets located at 1764.00 followed by 1810.00.

In general, we will continue to suggest the bullish trend for the upcoming period unless breaking 1691.10 and holding below it, as breaking it will put the price under more correctional bearish pressure that its next target located at 1646.00.

The expected trading range for today is between 1700.00 support and 1750.00 resistance.

The expected trend for today: Bullish