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AUSSIE 10-YEAR TECHS

(U2) More Stable But Still Fragile

USDCAD TECHS

Trend Structure Remains Bullish

US TSYS

Cautious Risk Appetite Gains Momentum

AUDUSD TECHS

Key Support Still Exposed

US STOCKS

Late Equity Roundup: 2W Highs

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Probes The 20-Day EMA

GOLD TECHS
  • RES 4: $1919.9 - High Apr 29 and key resistance
  • RES 3: $1909.8 - High May 5
  • RES 2: $1886.6 - 50-day EMA
  • RES 1: $1863.2 - Intraday high
  • PRICE: $1861.6 @ 09:58 BST May 23
  • SUP 1: $1807.5/1787.0 - Low May 18 / Low May 16 and bear trigger
  • SUP 2: $1780.4 - Low Jan 28 and a key support
  • SUP 3: $1753.7 - Low Dec 15 2021
  • SUP 4: $1749.3 - 1.236 proj of the Mar 8 - 29 - Apr 18 price swing

Gold is starting the week on a firmer note and is trading higher. The yellow metal has traded above resistance at $1859.6, the 20-day EMA. This suggests potential for a strong short-term correction and has opened the 50-day EMA at $1886.6. The move higher is still considered corrective and the trend direction remains down. A resumption of bearish activity would refocus attention on last week’s $1787.0 low (May 16).

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  • RES 4: $1919.9 - High Apr 29 and key resistance
  • RES 3: $1909.8 - High May 5
  • RES 2: $1886.6 - 50-day EMA
  • RES 1: $1863.2 - Intraday high
  • PRICE: $1861.6 @ 09:58 BST May 23
  • SUP 1: $1807.5/1787.0 - Low May 18 / Low May 16 and bear trigger
  • SUP 2: $1780.4 - Low Jan 28 and a key support
  • SUP 3: $1753.7 - Low Dec 15 2021
  • SUP 4: $1749.3 - 1.236 proj of the Mar 8 - 29 - Apr 18 price swing

Gold is starting the week on a firmer note and is trading higher. The yellow metal has traded above resistance at $1859.6, the 20-day EMA. This suggests potential for a strong short-term correction and has opened the 50-day EMA at $1886.6. The move higher is still considered corrective and the trend direction remains down. A resumption of bearish activity would refocus attention on last week’s $1787.0 low (May 16).