Gold - Technical Analysis: Thursday, 25/05/2017 07:53 GMT

Gold price shows new attempts to return to the ascending channel that appears on the chart below, as it tests the broken support of this channel, which indicates that the main bullish trend still in favor, waiting to head towards 1295.46 as a main target of the current bullish wave.

Note that pushing on 1255.77 then 1248.00 levels and breaking them will stop the expected rise and push the price to decline towards 1231.21 initially.