Gold Technical Analysis May 8, 2023
The Gold declined 1.63% against the USD on Friday and closed at 2015.80. Today in the European session, while the Gold technical Analysis May 8, 2023, is prepared at 5:15 GMT, the XAU/USD is trading at 2025.00, which is 0.45% higher than Yesterday’s close.
The Gold is expected to find support at 2018.00, and a fall-through could take it to the next support level of 2000.00. The pair is expected to find its first resistance at 2032.00, and a rise-through could take it to the next resistance level of 2038.00. Today’s expected trading range is between 1974.00 support, and 2052.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 2018.00
Support 2: 2000.00
Support 3: 1974.00
Important resistance levels:
Resistance 1: 2032.00
Resistance 2: 2038.00
Resistance 3: 2052.00