📊 Market Overview:
- Gold is trading around $3,329/oz on May 27, after a slight decline due to President Donald Trump's postponement of the 50% tariffs on the EU until July 9, easing trade tensions.
- However, end-of-month USD selling pressure from portfolio rebalancing and concerns over U.S. debt continue to support gold prices.
📉 Technical Analysis:
- Key Resistance: $3,350
- Nearest Support: $3,295
- Candlestick Patterns / Volume / Momentum: The 14-day RSI is at 57, suggesting bullish momentum persists. However, price is testing strong resistance at $3,350. Failure to break through may lead to a pullback towards $3,295.
📌 Outlook:
Gold may experience a short-term pullback if it fails to break above the $3,350 resistance level and if market sentiment continues to be influenced by geopolitical and monetary policy factors.
💡 Suggested Trading Strategy:
SELL XAU/USD at: $3,345 – $3,350
🎯 TP: $3,330
❌ SL: $3,350
BUY XAU/USD at: $3,295
🎯 TP: $3,310
❌ SL: $3,390
- Gold is trading around $3,329/oz on May 27, after a slight decline due to President Donald Trump's postponement of the 50% tariffs on the EU until July 9, easing trade tensions.
- However, end-of-month USD selling pressure from portfolio rebalancing and concerns over U.S. debt continue to support gold prices.
📉 Technical Analysis:
- Key Resistance: $3,350
- Nearest Support: $3,295
- Candlestick Patterns / Volume / Momentum: The 14-day RSI is at 57, suggesting bullish momentum persists. However, price is testing strong resistance at $3,350. Failure to break through may lead to a pullback towards $3,295.
📌 Outlook:
Gold may experience a short-term pullback if it fails to break above the $3,350 resistance level and if market sentiment continues to be influenced by geopolitical and monetary policy factors.
💡 Suggested Trading Strategy:
SELL XAU/USD at: $3,345 – $3,350
🎯 TP: $3,330
❌ SL: $3,350
BUY XAU/USD at: $3,295
🎯 TP: $3,310
❌ SL: $3,390
Related publications
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.
Related publications
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.