Midday update for Gold 26-05-2016
Economies.com
2016-05-26 10:53AM UTC
Gold price begins today show negative trading now, as the price gets negative signal by stochastic, which forms negative motive that we are waiting to assist to push the price towards our main waited target at 1205.80.
Therefore, the bearish trend will remain valid and active for today supported by the EMA50, conditioned by the price stability below 1243.17 level, reminding you that breaking 1205.80 level will extend the correctional bearish wave to reach 1175.60 direct.
Expected trading range for today is between 1205.00 support and 1245.00 resistance.
Expected trend for today: Bearish
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