FX.co ★ Daily analysis of Gold for May 28, 2018

Overview

Gold price opens this week by a clear decline below 1,301.20, after finishing last week below it too. This reactivates the bearish correction scenario on the intraday basis, waiting to target 1,285.90 level as a first main station. Therefore, the bearish trend will be expected in the upcoming sessions unless breaching 1,301.20 – 1,307.00 levels and holding above them. The expected trading range for today is between 1,280.00 support and 1,307.00 resistance.