XAUUSD Technical Analysis 16th May 2025 1h chart

XAUUSD Technical Analysis 16th May 2025 1h chart
– Thursday Daily candle closed Bullish at 3239.700 forming Daily Support around 3175.500 as price reject the downside.

– I’ll be looking for potential Buys above 3250.000 targeting previous Hourly Support formed at 3268.500 Leaving Runners to the Hourly Resistance formed at 3289.500.


– I’ll be looking for potential Sells below 3221.000 targeting Strong Key Level at 3200.000 Leaving Runners to the Daily Support formed at 3175.500.


– Weekly candle showing a strong rejection from the downside — will price manage to close above the previous weekly support ?