Forex Trading Library

Gold 2018-05-02

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Gold managed to edge lower below 1315 where managed to test 1302-05 support zone befor emarket rebound few dollars up

As market closing from FOMC statement today a chance for the downtrend side to sustain as long as market holding below resistance 1315-17 zone for more drop toward 1290 and 1280

Above 1317 a chance for more advance to test 1325-27 zone is expected

While Short-Run seeing that as long as Gold holding the Daily close below 1333 the downtrend wave may sustain toward 1260-70 zone

  Support Resistance
Level 1 1299 1315-17
Level 2 1290 1325-27
Level 3 1280 1333
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