Gold is ending the trading week with a correction near the 4568 area. XAU/USD quotes continue to move within a bearish correction and bullish channel. Moving averages indicate an upward trend in gold. Prices are again testing the area between the signal lines, indicating buying pressure and potential continued price growth. At this point, we should expect an attempt at a bearish price correction and a test of the support level near the 4475 area. Subsequently, an upward rebound and continued growth in XAUUSD are expected this trading week, with a potential target above 5375.
GOLD Weekly Forecast XAU/USD May 18 – 22, 2026
An additional signal favoring a decline in gold quotes and prices this trading week (May 18-22, 2026) will be a rebound from the support line on the relative strength indicator (RSI). The second signal will be a rebound from the lower boundary of the bullish channel. The upward trend in XAU/USD quotes will be canceled if the price falls and breaks the 4035 area. This will indicate a breakout of the lower boundary of the bullish channel and a continued decline in gold prices with a target below 3725. A breakout of the resistance area and a close above 4935 will confirm the asset’s price growth, signaling a breakout of the upper boundary of the Double Bottom reversal pattern and the beginning of the pattern’s implementation with targets above.
GOLD Weekly Forecast XAU/USD May 18 – 22, 2026 suggests an attempt to develop a bearish correction and test the support level near 4475. Then, gold prices will continue to rise with a target above 5375. A test of the trendline on the relative strength indicator (RSI) will support upward price movement. A decline and a breakout of 4035 would cancel out the gold rally. This would indicate a continued decline below 3725.
