Forex Trading Library

Gold–16.05.2025

By Rami Abu-Draa On May 16, 2025

Gold managed to meet targets 3200 and 3250-60 yesterday.
As we saw from the market, Gold managed to drop as the market kept trades below the resistance of 3250-60.
Prices hit a low of 3154 today while as long as the market holds above the support zone of 3130-50, another rebound toward 3230 will be expected.
Below 3103 more of a drop toward 3050 is likely.

	SUPPORT	RESISTANCE
LEVEL1	3130-50	3200
LEVEL2	3103	3230-60
LEVEL3	3050	3290

Rami Abu-Draa

Head of Technical Analysis at Orbex, Rami Abu Draa
holds a bachelor's degree in Banking, Finance and Economics. A professional trader and mentor with over 10 years of industry experience, Rami is passionate about sharing his knowledge with Orbex clients from basic to advanced concepts of Technical Analysis, Investment psychology and Investment/Trading methodologies. He is able to combine fundamental and technical principles to deliver a unique perspective on the markets that enables Orbex traders to identify high-probability trading opportunities.

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1 Comment

4o Image API says 11 months ago

Thanks for the analysis! I’m curious about how global events might impact these support and resistance levels. If we see any major shifts in the broader economic landscape, do you think that will influence gold’s movements in the short term?

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