Gold (XAUUSD) Strikes Major Resistance Level

Azeez Mustapha

Updated:

UNLOCK DAILY FOREX SIGNALS

Select a Plan

£40

 1-month subscription

Select

£30

 3-month subscription

Select

£21.5

 6-month subscription

Select

£399

 lifetime subscription

Select

£50

 Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.


Market Analysis – May 5

Gold reached its highest price of the year this week. The price rallied from a bullish order block resting on the support level of 1958.0 to the supply level of 2068.0

Gold Key Levels

Resistance Levels: 2068.0, 2080.0, 2100.0
Support Levels: 1958.0, 1868.0, 1804.0
Gold Strikes Major Resistance Level

Gold Long-Term Trend: Bullish 

Gold has defied all odds, as the buyers have successfully reached the highest price of 2068.0. In February, the Bulls were faced with strong resistance. The Williams Percent Range had indicated the market was oversold. The  Parabolic SAR (Stop and Reverse) appeared above the daily candles to show the decline in the price. 

The Buyers used the demand level of 1804.0 for recovery after the whiplash at the 1958.0 resistance level. The bullish trend was restored with the aid of a double bottom. The price broke the 1958.0 supply level on the 17th of March after the upthrust from a bullish order block.
Gold Strikes Major Resistance Level

Gold Short-Term Trend: Bullish

Gold used the support level of 1958.0 to engineer the last push toward the resistance level. The return to the bullish order block currently  is anticipated and ought to provide support to finally break 2068.0.

You can purchase Lucky Block here.  Buy LBLOCK

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *