Gold price breaks the support – Analysis - 22-05-2019
Economies.com
2019-05-22 00:56AM UTC
Gold price closed the daily candlestick below 1275.30 level, to activate the bearish trend scenario on the intraday and short term basis, as the price heads for more bearish correction in the upcoming sessions, noting that our next target is located at 1253.20.
The EMA50 supports the suggested bearish wave, while breaching 1275.30 followed by 1283.00 levels represents positive factor that will stop the current negative pressure and push the price to recover again.
The expected trading range for today is between 1260.00 support and 1285.00 resistance.
The expected trend for today: Bearish
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