MA Studies Remain In A Bull-Mode Position

• RES 4: $2500.0 - Round number resistance
• RES 3: $2481.5 - 1.764 proj of the Oct 6 - 27 - Nov 13 price swing
• RES 2: $2452.5 - 2.618 proj of the Oct 6 - 27 - Nov 13 price swing
• RES 1: $2378.5/2431.5 - High May 10 / High Apr 12 and bull trigger
• PRICE: $2358.2 @ 07:19 BST May 15
• SUP 1: $2277.4 - Low May 3
• SUP 2: $2269.1 - 50-day EMA
• SUP 3: $2187.4 - Low Mar 28
• SUP 4: $2146.2 - Low Mar 18 and key short-term support

The medium-term trend structure in Gold remains bullish and this is reinforced by moving average studies that are in a bull-mode position. Near-term, a push higher would refocus attention on 2431.50, the Apr 12 high and bull trigger. Clearance of this level would confirm a resumption of the uptrend. On the downside, the 50-day EMA, at $2269.1, represents a key support. A clear break of it would be bearish.