Gold (XAU/USD): waiting to resume the bullish path

Gold (XAU/USD): waiting to resume the bullish path

Gold has been erasing gains since Monday’s session and it’s trying to push higher at the current stage, given that a demand zone has been established between the 1281.06 and 1276.33 levels. Around that area we can expect that the yellow metal resume the bullish trend in order to reach the -23.6% Fibo level at 1304.25. To the downside, the invalidation point lies at 1272.04.

RSI indicator is reaching the neutral territory.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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