XAUUSD Technical Analysis 17.05.2023 1h chart

– Previous Daily candle closed strong Bearish at 1988.800 forming new Daily Resistance around 2016.500.
– Buys on close above 1994.200 targeting 15min Resistance at 2001.200, Leaving Runners to the 4h previous Support formed at 2010.000.
– Sells on close below 1985.600 targeting 1h Support at 1979.800, Leaving Runners to the next 1h Support formed at 1973.500.
– There is a probability that new Daily candle to form small Daily Support respecting Daily Support formed on 2nd May 2023 as price retrace to retest the broken weak Daily Support formed on Monday.