Midday update for Gold 06/05/2016
Economies.com
2016-05-06 11:24AM UTC
Gold price trading settled above the minor bearish channel’s resistance, to keep the positive effect of the bullish flag pattern valid for today, supported by the EMA50, the price needs to breach 1283.17 then 1300.00 levels to confirm opening the way towards heading to 1344.85.
In general, we will keep our bullish trend expectations for today, unless breaking 1270.30 level and holding below it.
Expected trading range for today is between 1266.00 support and 1310.00 resistance.
Expected trend for today: Bullish
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