Midday update for Gold 18-05-2018
Economies.com
2018-05-18 10:44AM UTC
Gold price’s recent trades are confined inside the descending triangle that appears on the chart, and we still waiting to break 1285.90 level to confirm extending the bearish wave towards 1267.00, noting that stochastic and the EMA50 provide negative signals that suppot the chances of continuing the expected decline.
Therefore, our bearish overview will remain valid conditioned by the price stability below 1301.20.
Expected trading range for today is between 1270.00 support and 1305.00 resistance.
Expected trend for today: Bearish
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