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XAUUSD 30 May 2023

XAUUSD 30 May 2023 on the H4 timeframe. Gold has had a long bullish trend since early May. It broke down through R1 to S1 and is now below S2 at 1938.82. However, when referring to the stochastic indicator and looking at the candle movement on the chart, there is a possibility of a trend reversal caused by oversold that may occur in the next session. Therefore, go-long could be an option for traders to open positions. Wait for clearer indications or trade with your own risk.

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