Main Quotes Calendar Forum
flag

FX.co ★ Analysis of Gold for May 25, 2023 - Rejection of the key support cluster and potential for the rally

parent
Forex Analysis:::2023-05-25T08:08:17

Analysis of Gold for May 25, 2023 - Rejection of the key support cluster and potential for the rally

Technical analysis:

Analysis of Gold for May 25, 2023 - Rejection of the key support cluster and potential for the rally

Gold has been trading downside yesterday but this morning I found test and reject of the key support at the price of $1.955, which is good for the potential upside rotation towards upside reference.

Due to the rejection of the key support cluster and the mid-long term upside trend, I see potential for the upside movement towards upside reference.

Upside objective is set at the price of $1.983

RSI oscillator is showing bullish divergence, which is good sign for the further rally.

Key resistance is set at the price of $1.955

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...