Gold Technical Analysis May 2, 2023
The Gold declined 0.38% against the USD on Monday and closed at 1982.40. Today in the European session, while the Gold technical Analysis May 2, 2023, is prepared at 5:15 GMT, the XAU/USD is trading at 1987.00, which is 0.23% higher than Yesterday’s close.
The Gold is expected to find support at 1977.00, and a fall-through could take it to the next support level of 1971.00. The pair is expected to find its first resistance at 1989.00, and a rise-through could take it to the next resistance level of 1994.00. Today’s expected trading range is between 1950.00 support, and 2002.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1977.00
Support 2: 1971.00
Support 3: 1950.00
Important resistance levels:
Resistance 1: 1989.00
Resistance 2: 1994.00
Resistance 3: 2002.00