19.05.202014:16 Forex Analysis & Reviews: Analysis of Gold for May 19,.2020 - Good support zone at the price of $1.725 for potential re-long positions. The upward target is set at the price of $1.764

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Corona virus summary:

Chinese authorities have sealed off the north-eastern city of Shulan, home to about 700,000 people, after an outbreak of coronavirus, imposing measures similar to those used in Wuhan.

All villages and residential compounds in the city were closed off, and only one person from each household allowed out for two hours every second day for essentials.

The development came as Beijing signalled it could ease some border restrictions as it prepares for the start on Thursday of its signature political event, the Communist party's delayed annual congress, also known as the "two sessions".

Technical analysis:

Gold has been trading downwards. The price tested the level of $1,725 and stopped. The level around $1,725 seems like solid support and potential good zone for long opportunities.

Trading recommendation:

Watch for potential buying opportunities with the upward targets set at the price of $1,765 and $1,790.

Stop loss can be placed at $1,718

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