Gold price awaits the confirmation – Analysis - 15-05-2019

Gold price crawls downwards slightly to move away gradually from 1302.60 level, and the price still confined between the key levels represented by the mentioned resistance and 1287.00 support, which makes us continue with our neutrality until we get clearer signal for the next trend, through breaching one of the mentioned levels.

We remind you that breaching the mentioned resistance will push the price to confirm regaining the main bullish trend and achieving positive targets that start at 1326.00 and extend to 1346.73, while breaking the support will press on the price to decline again and target 1275.30 followed by 1253.20 levels on the near term basis.

The expected trading range for today is between 1285.00 support and 1315.00 resistance.

The expected trend for today: Depends on the above mentioned levels