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22.05.2025 06:15 PM
Early in the American session, gold is trading around 3,282, undergoing a sharp technical correction after reaching a high of 3,244 just after covering the gap left on May 8.
Gold could continue its decline in the coming hours. Only if it consolidates below the 6/8 Murray could it reach 3,277, 3,235, and finally cover the gap left on May 15 around 3,199.
On the other hand, if the 6/8 support proves strong, we could expect a technical rebound in this area, which could be seen as a buying opportunity with targets at 3,320 and the 7/8 Murray at 3,359.
A technical rebound around 3,281 could be seen as a buying opportunity with targets at 3,357.
The Eagle indicator is showing a negative signal, suggesting that gold's decline could continue in the coming days. To do this, we must pay attention to the 3,281 zone; below this area, the outlook could be negative.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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