Midday update for Gold 22-05-2017
Economies.com
2017-05-22 10:16AM UTC
Gold price fluctuates near 1254.56 level, and it remains below the broken support of the bullish channel that appears in the image, while stochastic continues providing negative signals.
Therefore, we believe that the chances are available to decline in the upcoming sessions, waiting for visiting 1229.32 level mainly, reminding you that breaching 1259.00 will push the price to return to the main bullish channel then head to 1295.37 as a next main target.
Expected trading range for today is between 1230.00 support and 1260.00 resistance.
Expected trend for today: Bearish temporarily
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