Midday update for Gold 14-05-2019

Gold price shows some bearish bias after touching 1302.60 level this morning, which shows the strength and sensitivity of this level for the short term trading, and as we mentioned this morning, breaching this level will push the price to achieve more gains and visit 1326.00 level as a next station.

But on the other hand, the continuation of the negative pressure and breaking 1288.00 will put the price under the negative pressure again, to head towards 1275.30 followed by 1253.20 as next main targets.

Therefore, we will continue with our neutrality until we get clearer signal for the next trend.

The expected trading range for today is between 1285.00 support and 1320.00 resistance.

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