Midday update for Gold 27/05/2015
Economies.com
2015-05-27 10:32AM UTC
Gold price returns to test the bullish trend line that appears on the above chart, and the price needs to hold above this level and above 1181.00 level to keep the bullish trend scenario valid for today, as breaking the last level will push the price to decline and a potential visit to 1142.60 areas.
Therefore, we will keep our morning overview valid as it is supported by stochastic positivity, reminding you with the initial waited targets at 1225.00 then 1244.00.
Expected trading range for today is between 1181.00 support and 1210.00 resistance.
Expected trend for today: Bullish
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