XAUUSD Technical Analysis 16th May 2024 1h chart

– Wednesday Daily closed Strong Bullish at 2386.200 breaking above recent Daily Resistance and tapping into Weekly Resistance formed on 21st April 2024. I’ll be looking for potential Buys above 2390.200 targeting 4h Resistance around 2399.500 and Hourly Resistance formed on Friday 19th April 2024 around 2409.500. I’ll be looking for potential Sells below 2377.500 targeting 4h previous Resistance formed at 2369.500 and Hourly Support formed at 2358.000. High Impact News ahead of the New York session for the US Dollar which may create good opportunities to participate in the market.