Gold price breaches the resistance – Analysis - 08-05-2019
Economies.com
2019-05-08 01:38AM UTC
Gold price breached 1282.00 level and settled above it, to activate the intraday bullish trend scenario, which targets visiting 1302.60 level mainly.
Moving above the EMA50 supports the expectations to rise, noting that breaking 1282.00 followed by 1275.30 levels will stop the suggested bullish trend and put the price under the correctional bearish pressure again.
The expected trading range for today is between 1275.00 support and 1300.00 resistance.
The expected trend for today: Bullish
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