Trading Closer To Its Recent Highs

• RES 4: $1919.9 - High Apr 29 and key resistance
• RES 3: $1909.8 - High May 5
• RES 2: $1879.9 - 50-day EMA
• RES 1: $1869.7 - High May 24
• PRICE: $1855.4 @ 08:20 BST May 31
• 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 maintains a firmer short-term tone and is trading closer to its recent highs. The yellow metal to test resistance at $1857.6, the 20-day EMA. This suggests potential for a test of the 50-day EMA at $1879.9. Gains are still considered corrective though and the primary trend direction is down. A resumption of bearish activity would refocus attention on the May 16 $1787.0 low.