Daily Technical Analysis Of XAUUSD - Wednesday, May 17

By AAATrade of aaatrade.com

Wednesday, May 17, 2023 10:10 AM EST

brass metal frame

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Spotlight on gold. The latest daily technical analysis by AAATrade reveals the key support and resistance levels that each of these assets is likely to reach today. Look at the charts and our market analysts’ observations below and gain a fresh perspective on trading.

Gold

Looking at gold’s chart, we can see that the precious metal was trading above the level of $2000 in the past two weeks, and yesterday it broke down that support level as it is currently traded at around $1988. Today, if it fails to recover above that level, then we should expect it to test its support level at around $1970.

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AAATrade's Daily Technical Analysis of XAUUSD - 17/05/2023

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