Midday update for Gold 23-05-2023

Gold prices shows more bearish bias to gradually approach our waited target at 1945.20, and we expect the continuation of the decline to surpass this level and target the next correctional level at 1913.15 on the near term basis.

Therefore, the bearish trend will remain suggested for today, it might be preceded by some temporary sideways fluctuation affected by stochastic positivity, reminding you that it is important to hold below 1977.25 to achieve the expected targets.

The expected trading range for today is between 1945.00 support and 1977.00 resistance.

The expected trend for today: Bearish