Gold technical analysis
Daily chart resistance 3284, support below 3167
Four-hour chart resistance 3252, support below 3192
One-hour chart resistance 3222, support below 3192
Gold news analysis: Spot gold continued to rise at the opening of this week on Monday (May 19), but failed to break through the key resistance of $3250. The market showed a cautious sentiment under the interweaving of multiple factors: Moody's downgrade of the US sovereign credit rating, the renewed tension in the Middle East, and Trump's tariff remarks on risk sentiment, which together constitute the core logic of gold price fluctuations. At present, gold is in a narrow range of fluctuations, reflecting that the market's pricing of credit risk and policy uncertainty is still insufficient. If Moody's rating downgrade triggers a continued sell-off of US bonds, and if the conflict in the Middle East escalates, gold prices are expected to rely on the support of $3,200 to accumulate strength to attack $3,250. On the contrary, if Trump releases a signal to ease the situation between Russia and Ukraine or the Federal Reserve downplays the impact of the rating, it is not ruled out that the technical support of $3,150 will be stepped back. In the short term, we need to pay close attention to two dynamics: one is whether the long-term US Treasury yield can be stabilized below 5%, and the other is whether the ground operations in the Middle East will be expanded. The technical side needs to confirm the effective breakthrough of $3252 before a new round of trend space can be opened.
Gold operation suggestions: From the current trend analysis, the lower support focuses on the first-line support of the 3192 mark, and the upper pressure focuses on the one-hour level 3252 and the four-hour level 3284. The short-term long and short strength watershed 3192 first-line mark, and the overall support relies on this range to maintain high selling and low buying.
BUY:3200near SL:3195
BUY:3250near SL:3145
Daily chart resistance 3284, support below 3167
Four-hour chart resistance 3252, support below 3192
One-hour chart resistance 3222, support below 3192
Gold news analysis: Spot gold continued to rise at the opening of this week on Monday (May 19), but failed to break through the key resistance of $3250. The market showed a cautious sentiment under the interweaving of multiple factors: Moody's downgrade of the US sovereign credit rating, the renewed tension in the Middle East, and Trump's tariff remarks on risk sentiment, which together constitute the core logic of gold price fluctuations. At present, gold is in a narrow range of fluctuations, reflecting that the market's pricing of credit risk and policy uncertainty is still insufficient. If Moody's rating downgrade triggers a continued sell-off of US bonds, and if the conflict in the Middle East escalates, gold prices are expected to rely on the support of $3,200 to accumulate strength to attack $3,250. On the contrary, if Trump releases a signal to ease the situation between Russia and Ukraine or the Federal Reserve downplays the impact of the rating, it is not ruled out that the technical support of $3,150 will be stepped back. In the short term, we need to pay close attention to two dynamics: one is whether the long-term US Treasury yield can be stabilized below 5%, and the other is whether the ground operations in the Middle East will be expanded. The technical side needs to confirm the effective breakthrough of $3252 before a new round of trend space can be opened.
Gold operation suggestions: From the current trend analysis, the lower support focuses on the first-line support of the 3192 mark, and the upper pressure focuses on the one-hour level 3252 and the four-hour level 3284. The short-term long and short strength watershed 3192 first-line mark, and the overall support relies on this range to maintain high selling and low buying.
BUY:3200near SL:3195
BUY:3250near SL:3145
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💥Telegram Channel Free Updates 👉🏻
💥t.me/Actuary00group
✉️Signal and daily analysis channel
💥t.me/Actuary00group
✉️Signal and daily analysis channel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.