GOLD 23/05: Will buyers counterattack?

23 May 2023

GOLD Gold price (XAU/USD) failed to defend the immediate support at 1975$ during the Asian session. The precious metal fell sharply as Federal Reserve (Fed) policymakers were confident the central bank would raise interest rates more in its fight against persistent US inflation.

Gold prices are expected to plummet after breaking below the demand zone placed in the 1,955$-1,975$ range on a four-hour scale. The 20-period exponential moving average (EMA) at 1,970$ is acting as an obstacle for Gold bulls.

The Relative Strength Index (RSI) (14) has slipped back into the 20.00-40.00 bearish range, which signals that bearish momentum has been activated again.

BUY GOLD zone 1950-1953

Stoploss: 1945
Take Profit 1: 1958
Take Profit 2: 1963
Take Profit 3: 1970

Note : TP, SL full to be safe and win the market !

23 May 2023

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The entry point is near, everyone pay attention!