Gold price forecast today May 17, 2018

By | May 17, 2018

Gold price forecast today

Gold price today trading at 1289$, It made low of 1286$ (lowest point since December 2017) yesterday and then tried to recover above 1292$ but could not succeed. Currently prices are comforting below 1290$. A good support on gold chart stands at 1280$, If traders take this base out and manage to sustain trade below our support. Then expect more pressure in gold price upto 1272$ – 1265$ today.

A good hurdle on gold chart stands at 1296$, If traders cross this bridge and manage to sustain trade above our resistance. Then expect good recovery in gold price upto 1302$- 1308$ today.

Gold price forecast today: Gold price trend is flat to weak for now. Once resistance is out then its a good value buy.

Dow Jones analysis

Dow Jones trading at 24710, DJIA trading lower since morning after shaving 70-80 points since early morning session. A good support on dow jones index chart stands at 24600. If traders take this base out and manage to sustain trade below our support. Then expect more pressure in Wall Street upto 24470- 24300 today.

A good resistance on DJIA Index chart stands at 24820, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect good firepower in Wall Street upto 24940- 25050 today.

Dow Jones analysis conclusion: Dow Jones trend is flat for now. Follow technical levels to trade.

Euro analysis

Euro to dollar trading at 1.1808, It just gave a big red crack in last 30 minutes. A good support on eur/usd stands at 1.1750, If traders take this base out and manage to sustain trade below our support. Then expect euro upto 1.1700- 1.1650 today.

A good barrier on euro to dollar chart stands at 1.1860, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect good firepower in euro upto 1.1920- 1.1960 today.

Euro analysis conclusion: Euro trend is flat to positive for now.

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