empty
 
 
23.05.2025 06:14 PM
Trading Signals for GOLD for May 23-27, 2025: sell below $3,360 (7/8 Murray - 21 SMA)

This image is no longer relevant

Early in the American session, gold is trading around 3,360 after a strong technical rebound when it reached 6/8 of the Murray level at 3,281 yesterday.

Gold is overbought, and a technical correction is likely in the coming days, so we will look for opportunities to sell below 3,360, the area where 7/8 of the Murray level is located.

On the other hand, if gold consolidates above 3,370, the outlook could remain positive, and we could expect it to rise and reach 8/8 of the Murray level at 3,437.

On May 5, gold left a gap around 3,424, and it is likely that this gap can be filled, as it still needs to be closed. Therefore, we must be very cautious if gold rises above 3,370.

Our trading plan is to sell below 3,360 with targets at 3,304, and it could even reach 5/8 of the Murray around 3,200. In this area, gold also left another gap and is likely to be covered.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback