Daily analysis of Gold for June 05, 2018

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Overview

Gold is trading mainly sideways in a tight range until now. I prefer to keep the bearish scenario valid for today. This outlook is supported by the EMA50, depending on the price stability below $1,301.20 level. I expect to target $1,285.90 followed by $1,267.00 as next main stations. The expected trading range for today is between $1,275.00 support and $1,305.00 resistance.

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