Gold Technical Analysis May 16, 2022
The Gold declined 0.61% against the USD on Friday and closed at 1811.70. Today in the Asian session, while Gold technical Analysis May 16, 2022, is preparing at 5:45 GMT, the XAU/USD trading at 1806.00, which is 0.30% lower than Yesterday’s close.
The Gold is expected to find support at 1800.00, and a fall through could take it to the next support level of 1892.00. The pair is expected to find its first resistance at 1817.00, and a rise through could take it to the next resistance level of 1828.00. Today’s expected trading range is between 1781.00, support, and 1832.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1800.00
Support 2: 1792:00
Support 3: 1781:00
Important resistance levels:
Resistance 1: 1817.00
Resistance 2: 1828.00
Resistance 3: 1832.00