Gold Technical Analysis May 19, 2023
The Gold declined 1.25% against the USD on Thursday and closed at 1957.30. Today in the European session, while the Gold technical Analysis May 19, 2023, is prepared at 5:15 GMT, the XAU/USD is trading at 1962.00, which is 0.23% higher than Yesterday’s close.
The Gold is expected to find support at 1954.00, and a fall-through could take it to the next support level of 1945.00. The pair is expected to find its first resistance at 1968.00, and a rise-through could take it to the next resistance level of 1978.00. Today’s expected trading range is between 1935.00 support, and 1985.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1954.00
Support 2: 1945.00
Support 3: 1935.00
Important resistance levels:
Resistance 1: 1968.00
Resistance 2: 1978.00
Resistance 3: 1985.00