Gold Technical Analysis May 18, 2023
The Gold declined 0.32% against the USD on Wednesday and closed at 1981.80. Today in the European session, while the Gold technical Analysis May 18, 2023, is prepared at 5:15 GMT, the XAU/USD is trading at 1975.00, which is 0.35% lower than Yesterday’s close.
The Gold is expected to find support at 1972.00, and a fall-through could take it to the next support level of 1952.00. The pair is expected to find its first resistance at 1985.00, and a rise-through could take it to the next resistance level of 1992.00. Today’s expected trading range is between 1935.00 support, and 2000.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1972.00
Support 2: 1952.00
Support 3: 1935.00
Important resistance levels:
Resistance 1: 1985.00
Resistance 2: 1992.00
Resistance 3: 2000.00