FX.co ★ Analysis of Gold for May, 27.2019

Gold has been trading sideways at the price of $1.285.35. We found that Gold lost momentum on the last up swing, which is potential sign of the downward movement.

White line – bearish divergence

Red horizontal line- Support 1

Red horizontal line– Support 2

We found bearish divergence on the Stochastic oscillator, which is sign of the losing momentum on the upside. We also found fial breakout of the Friday's high at $1.286, which is another sign of the wekaness. Support is seen at the price of $1.280 and $1.270. Resistance level is set at the price of $1.287. Watch for potential selling opportunities with the first target at $1.280.