Midday update for Gold 20-05-2019

Gold price begins to press negatively on the key support 1275.30, and as we mentioned this morning, breaking this level will put the price under the correctional bearish pressure again, targeting 1253.20 areas as a next main station, but we need to get a daily close below the mentioned support to confirm the continuation of the decline in the upcoming sessions.

Therefore, we will continue with our neutrality until the price confirms breaking 1275.30 support or breaching 1285.00 resistance followed by detecting the next destination clearly.

The expected trading range for today is between 1265.00 support and 1290.00 resistance.

The expected trend for today: Depends on the above mentioned levels