empty
 
 
19.05.2023 08:30 AM
Analysis of Gold for May 19, 2023 - Rejection of the support cluster at the price of $1.950

Technical analysis:

This image is no longer relevant

Gold has been trading downside yesterday but I found test and reject of the support cluster at the price of $1.950, which is a good sign for the further upside rotation.

Due to the upside cycle and the test-reject of the support cluster in the background, I see potential for the further rally towards upside reference.

Upside objective is set at the price of $1.988

MACD oscillator is showing decreasing in the downside momentum, which is good sing for the further rally.

Support level is set at the price of $1.950

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback