Gold price next week?: Falling out of the 2000 zone

14 May 2023

XAUUSD Gold remained stagnant throughout the week, closing within the same price range as last week due to a $2,048 resistance and $2,001 support. There are concerns about the US debt ceiling expiration as talks have been postponed to next week. Additionally, there are worries about an economic slowdown as bank deposits in the US decrease.

A sustained Buy Breakout move above $2,022 will help gold regain its position at $2,032-$2,038.

Buy Sell Breakout at 2000 when the market shows signs of breaking through and close below this price range, stop loss at near 2011 resistance. Nearest target: 1995 - 1990 - 1983



BUY GOLD zone 1983 - 1980

Stoploss: 1975

Take profit 1: 1987
Take profit 2: 1992
Take profit 3: 2002