Gold price tests the support – Analysis - 25-05-2020

Gold price tests the key support 1725.90, which represents one of the next trend keys besides 1745.50 resistance, as it falls under the negative pressure formed by stochastic, which provides preference to provide more negative trades in the upcoming sessions.

Until now, we continue to monitor the price behavior according to the mentioned levels until we get clearer signal for the next trend, reminding you that breaking the support will push the price to visit the first correctional level at 1691.10 direct, while breaching the resistance will motivate the price to regain the main bullish trend and head towards 1810.00 as a next positive target.

The expected trading range for today is between 1705.00 support and 1750.00 resistance.

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