Gold - Technical Analysis: Monday, 29/05/2017 08:02 GMT

Gold price achieved good gains on last Friday to confirm the continuation of trading inside the ascending channel, which makes us expect more rise in the coming period, to continue the domination of the bullish trend on the short term basis, noting that our next target is located at 1295.46.

The price stability above 1255.77 is important to continue the expected bullish trend, as breaking it will push the price to visit the next correctional level at 1231.21 before attempting to return to rise again.