FX.co ★ Daily analysis of Gold for May 21, 2018

Overview

Gold price is trading lower at around $1,285.90. The price aims to break it and is struggling to hold below it now. This supports the continuation of our bearish outlook efficiently for the upcoming period. The price is affected by the negative signal provided by stochastic now. Let me reminding you that our next target is located at $1,267.00. The EMA50 is still supporting the suggested bearish wave, provided that is holding below $1,301.20. The expected trading range for today is between $1,270.00 support and $1,305.00 resistance.