29.05.202515:58 Forex Analysis & Reviews: Trading Signals for GOLD for May 29-30, 2025: sell below $3,317 (7/8 Murray - 21 SMA)

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Early in the American session, gold is trading around 3,314 with a strong technical rebound originating after reaching the 50% Fibonacci retracement. Gold rose sharply after testing the 200 EMA support located at 3,256.

Gold could continue rising in the coming hours but should break the top of the downtrend channel around 3,317. If this scenario occurs, it could continue to reach the top of the main downtrend channel around 3,335.

Should gold fail to break above and break below 3,317, this could be seen as an opportunity to sell, as a technical correction could be expected. Gold could reach 6/8 Murray at 3,281, and could even cover the gap it left on May 16, around 3,198.

Technically, gold is seen as overbought, however, a technical correction is likely in the coming hours, and this could be seen as an opportunity to sell below 3,335.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.