Technical Analysis (Gold) : XAU/USD 22 May 2020

Forex Technical Analysis : XAUUSD (Gold)

Date : 22 May 2020

Pivot point : 1734.00

Our preference : short positions below 1734.00 with targets at 1715.00 & 1709.00 in extension.

Alternative scenario : above 1734.00 look for further upside with 1742.00 & 1752.00 as targets.

Comment : the RSI has just struck against its neutrality area at 50% and is reversing down.

Supports and resistances :

1752.00 **
1742.00 *
1734.00
1726.25 – Last price
1715.00
1709.00 *
1703.00 **

Warning : This information isn’t a buy-sell signal. Please use this information for the trade guideline.

Source : Trading Central

If you open a live account with a broker that support Trading Central, you’ll get all technical analysis.