Midday update for Gold 25-05-2023

1 week ago

Gold prices shows some slight bullish bias, as it is affected by stochastic positivity, but as long as the price is below 1977.25, the bearish trend scenario will remain valid for today, supported by the negative pressure formed by the EMA50, reminding you that our targets begin at 1945.20 and extend to 1913.15 after breaking the previous level.


Note that breaching 1977.25 will stop the negative scenario and push the price to attempt to regain the main bullish trend again.


The expected trading range for today is between 1940.00 support and 1970.00 resistance.


The expected trend for today: Bearish

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