Gold Technical Analysis May 24, 2023
The Gold rose 0.17% against the USD on Wednesday and closed at 1975.20. Today in the European session, while the Gold technical Analysis May 24, 2023, is prepared at 5:15 GMT, the XAU/USD is trading at 1977.00, which is 0.08% higher than Yesterday’s close.
The Gold is expected to find support at 1971.00, and a fall-through could take it to the next support level of 1954.00. The pair is expected to find its first resistance at 1995.00, and a rise-through could take it to the next resistance level of 1992.00. Today’s expected trading range is between 1945.00 support, and 1999.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1971.00
Support 2: 1954.00
Support 3: 1945.00
Important resistance levels:
Resistance 1: 1985.00
Resistance 2: 1992.00
Resistance 3: 1999.00