Gold Price Declines After Achieving A Gap

London (May 9)  Gold declined after achieving a gap, along with negativity on technical indicators RSI and ADX. However, the positivity on moving averages and trading above 1293.00 makes the bullishness valid.

We should witness stability above 1272.00 to affirm the bullish scenario, which targets 1300.00 psychological.

Support: 1277.00 – 1272.00 – 1259.00

Resistance: 1295.00 – 1300.00 – 1318.00

Direction: Bullish

Source: Investing.com