Daily analysis of Gold for May 04, 2018

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Overview

The Gold price shows expected bearish bias after testing 1,316.48 level, on its way to test 1,301.20 level in the upcoming sessions, noting that these levels represent the next trend keys, thus, the price needs to breach one of them to detect its next targets clearly. Therefore, our neutrality will remain valid until now, while the details of the expected targets after the breach are explained in our morning issued report. The expected trading range for today is between 1,295.00 support and 1,330.00 resistance.

The material has been provided by InstaForex Company - www.instaforex.com