Gold Technical Analysis May 9, 2023
The Gold rose 0.26% against the USD on Monday and closed at 2021.40. Today in the European session, while the Gold technical Analysis May 9, 2023, is prepared at 5:15 GMT, the XAU/USD is trading at 2023.00, which is 0.11% higher than Yesterday’s close.
The Gold is expected to find support at 2020.00, and a fall-through could take it to the next support level of 2014.00. 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 2000.00 support, and 2052.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 2020.00
Support 2: 2014.00
Support 3: 2000.00
Important resistance levels:
Resistance 1: 2032.00
Resistance 2: 2038.00
Resistance 3: 2052.00