Back
28 May 2020
Gold Price Analysis: Limited gains below the $1730/oz level for XAU/USD
- XAU/USD bounces and finds resistance near the 1730 level.
- The picture is mixed with more choppiness ahead below the 1730 level.
XAU/USD four-hour chart
After bouncing from the 1690/1700 price zone XAU/USD is stalling below the 1730 resistance and the 50 SMA on the four chart. The picture is mixed as it seems the metal is challenging a tough resistance near the 1730 level. However, a break above the level would be necessary for more upside momentum towards the 1740 and 1750 levels. Support should emerge near the 1710 and 1700/1690 price levels.
Additional key levels