Technical analysis of GOLD 05/23/2025
Gold (GOLD, 1D) remains in a steady uptrend, trading within the bounds of an ascending channel.
The current price is 3327, with the market consolidating just below resistance.
Resistance:
— 3327 – local resistance level
— 3497 – all-time high and upside target if broken
Support:
— 3128 – 38.2% Fibonacci retracement
— 3016 – key zone where the channel line, 50% Fibo, and the 100-day MA converge
Both MA100 and MA200 are sloping upward, and price remains firmly above them — confirming the bullish trend.
RSI is at 55.6 — neutral, with no signs of overheating.
As long as the price holds above 3128, especially above 3016, the bullish outlook remains intact.
A breakout above 3327 could lead to a move toward 3497.
Created by Joshua Hayn
Did you like this article? Share it with your friends!
Leave a Reply