Gold - Technical Analysis: Monday, 22/05/2017 07:06 GMT

Gold price is attempting to return to the bullish channel after leaning on the intraday support that was formed above the previously breached resistance that appears on the chart below, and the price needs to confirm the return to the ascending channel and turn to the bullish trend.

Overall, we expect witnessing positive trades in the coming period unless the price fell under negative pressure to break 1231.21 and settles below it, noting that our waited target is located at 1295.46.