Gold tests the key levels 22/05/2013
Economies.com
2013-05-22 05:48AM UTC
Gold price decline stopped at the breached bearish channel which turns into support now at 1353.00, and the price still needs signals to confirm its next trend, where breaking below the mentioned support will turn the negative pressure again, targeting 1300.00
On the other hand, breaching levels between 1398.00 – 1403.00 will push the price to the upside to test areas initially around 1447.00
Thus, the neutrality remains valid, until confirming surpassing one of the aforementioned levels.
Expected trading range for today is between: 1350.00 support and 1403.00 resistance.
Expected trend for today: Neutral
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