Gold Trading Strategy, May 22-23

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✅Gold prices have risen for three consecutive days and are currently approaching the 3438-3500 trend resistance line. The probability of touching this pressure area in the short term is high. This round of rising trend is accompanied by the accumulation of top divergence signals. Although this divergence does not have the ability to predict in the short term, once the correction is completed, it will help open up the subsequent upward space.

✅In terms of support structure, the current retracement is expected to stabilize in the 3280-3285 area, which is the retracement confirmation support after the breakthrough of the daily middle track.

✅Market outlook: If the subsequent impact of the 3350-3360 pressure zone is blocked, it may trigger a round of C wave correction, and then it may test the support of the previous high breakthrough point of 3250 below.

✅As long as the 4-hour closing is stable above 3280, there is a high probability that the market will bottom out and rebound, and test the upper resistance again.

✅The current support is near 3280 (near the 66-day moving average), and the short-term is in a volatile stabilization stage.
Once it returns to above the 3320 middle track, it will look to the 3350-3360 resistance range again in the short term.

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