FX.co ★ Daily analysis of Gold for May 30, 2017

Overview

Gold price is fluctuating within a tight range keeping its stability above the bullish channel's support. Please be aware that stochastic begins to provide a positive overlapping signal on the chart of the four-hour time frame. This cements expectations of a further bullish trend that gains continuous positive support from the EMA50. Therefore, we are waiting for the upward bias today. Let me remind you that our next main target is located at 1,295.37. Since it is achieved, it enables the price to hold above 1,263.00. The expected trading range for today is between 1,250.00 support and 1,280.00 resistance.