Gold Technical Analysis May 17, 2023
The Gold declined 1.37% against the USD on Tuesday and closed at 1988.64. Today in the European session, while the Gold technical Analysis May 17, 2023, is prepared at 5:15 GMT, the XAU/USD is trading at 1983.00, which is 0.27% lower than Yesterday’s close.
The Gold is expected to find support at 1974.00, 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 1992.00, and a rise-through could take it to the next resistance level of 2000.00. Today’s expected trading range is between 1945.00 support, and 2021.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1974.00
Support 2: 1952.00
Support 3: 1945.00
Important resistance levels:
Resistance 1: 1992.00
Resistance 2: 2000.00
Resistance 3: 2021.00