Forecast for May 25:
Analytical review on the scale of H1:
For Gold, the key levels on the H1 scale are: 1316.66, 1311.26, 1308.97, 1305.28, 1301.72, 1299.46, 1295.70 and 1288.63. Here, we follow the upward cycle of May 21. The continued movement to the top, we expect after the breakdown of 1305.28. In this case, the target is 1308.97 and in the corridor of 1308.97 - 1311.26 is the consolidation. The potential value for the top, consider the level of 1316.66, upon reaching which, we expect a pullback to the bottom.
The short-term downward movement, possibly in the corridor of 1301.72- 1299.46 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1295.70 and this level is the key support for the upward cycle.
The main trend is the upward cycle of May 21.
Trading recommendations:
Buy: 1305.28 Take profit: 1308.80
Buy 1311.26 Take profit: 1316.50
Sell: 1301.72 Take profit: 1300.00
Sell: 1299.00 Take profit: 1296.00
