Gold Technical Analysis May 1, 2023
The Gold rose 0.11% against the USD on Friday and closed at 1989.60. Today in the European session, while the Gold technical Analysis May 1, 2023, is prepared at 5:15 GMT, the XAU/USD is trading at 1988.00, which is 0.08% lower than Yesterday’s close.
The Gold is expected to find support at 1975.00, and a fall-through could take it to the next support level of 1950.00. The pair is expected to find its first resistance at 1994.00, and a rise-through could take it to the next resistance level of 2002.00. Today’s expected trading range is between 1945.00 support, and 2008.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1975.00
Support 2: 1950.00
Support 3: 1945.00
Important resistance levels:
Resistance 1: 1994.00
Resistance 2: 2002.00
Resistance 3: 2008.00