Gold Technical Analysis May 31, 2023
The Gold rose 0.85% against the USD on Tuesday and closed at 1959.80. Today in the European session, while the Gold technical Analysis May 31, 2023, is prepared at 5:15 GMT, the XAU/USD is trading at 1956.00, which is 0.617% lower than Yesterday’s close.
The Gold is expected to find support at 1952.00, and a fall-through could take it to the next support level of 1940.00. The pair is expected to find its first resistance at 1964.00, and a rise-through could take it to the next resistance level of 1971.00. Today’s expected trading range is between 1932.00 support, and 1984.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1952.00
Support 2: 1940.00
Support 3: 1932.00
Important resistance levels:
Resistance 1: 1964.00
Resistance 2: 1971.00
Resistance 3: 1984.00