Midday update for Gold 16-05-2019
The tight range dominates Gold price trades since morning, to remain stuck between the key levels represented by 1286.00 support and 1302.60 resistance, thus, our neutrality will remain valid until the price confirms breaching one of the mentioned levels.
We remind you that breaking the mentioned support will push the price to resume the correctional bearish trend that its targets begin at 1275.30 followed by 1253.20, while breaching the resistance will allow the price to get rid of the correctional bearish pressure and regain the main bullish trend that targets 1320.00 followed by 1346.70 levels as next main stations.
The expected trading range for today is between 1285.00 support and 1315.00 resistance.
The expected trend for today: Depends on the above mentioned levels
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