Technical analysis on Gold for May 10, 2018

Gold price continues to trade sideways below the resistance of $1,320. I continue to be bullish and expect Gold price to move at least towards $1,330. Possible targets to the upside are $1,331 and $1,348.


Black line - short-term resistance

Red line - long-term support

Blue line - long-term resistance

Gold price has short-term resistance at $1,320 and support at $1,300. The RSI has been diverging for some time now and we expect Gold price to make a move higher towards $1,330 at least. I'm bullish and I do not want to see Gold price break below $1,300.

The material has been provided by InstaForex Company -