Midday update for Gold 26-05-2023

1 week ago

Gold prices trades positively to move away from 1945.20 level, and tests minor resistance line located at 1954.00 after breaking it previously, to form protection factor to the continuation of the expected bearish trend for today, which its targets begin by breaking 1945.20 to open the way to head towards 1913.15 as a next correctional target.


On the other hand, we should note that surpassing 1954.00 will push the price to achieve additional gains that reach 1977.25 before any new attempt to decline.


The expected trading range for today is between 1925.00 support and 1960.00 resistance.


The expected trend for today: Bearish

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