Gold approaches 1,900.00

Source: Dukascopy Bank SA


The price for gold has passed below 1,915.00 and 1,910.25 levels. On Tuesday, the commodity price had reached the support zone below 1,905.00

In the case of a recovery of the commodity the metal's price is set to face resistance in the 1,910.25 and 1,915.00 level, before approaching the upper trend line of the channel down pattern. Higher above, take into account the 50, 100 and 200-hour simple moving averages.

However, in the case of a decline below the support zone, note the 1,900.00 and 1,895.00 levels and the lower trend line of the channel pattern.
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