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Gold is amid positive expectations -Analysis-23-05-2025
The (gold) price rose slightly in its last intraday trading, taking advantage of its stability alongside a minor bullish bias line on the short-term basis, amid the continuation of its moves above its EMA50, keeping the positive momentum valid on the near term basis.
The beginning of positive overlapping signals appearance on the (RSI), reinforces this suggestion, after reaching exaggerated oversold levels compared by the price move, indicating the possibility for forming a positive divergence that supports the recovery chances and the continuation of the rise in the upcoming trading.
Therefore, our expectations suggest more of the upside movements in (Gold) prices in the upcoming intraday trading, if it settles above $3,300, to target the resistance level at $3,350.
The expected trading range is between $3,250 support and $3,350 resistance.
Today’s forecast: Bullish
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