Gold - Technical Analysis: Thursday, 18/05/2017 07:42 GMT

Gold price continued its rise to manage to surpass 1255.77 and settle above it, which adds more confirmation to the continuation of the bullish trend on the short term basis, and the price attempts to confirm stopping the bearish correction that pushed trades to decline from the recently recorded top at 1295.46.

Thus, we are waiting for more rise in the coming period, as our next target is located at the above mentioned top, while the price needs to settle above 1252.00 to continue the expected bullish trend.