Gold tests support zone

Source: Dukascopy Bank SA


In the aftermath of the release of the US Consumer Price Index, the yellow metal declined until it found support in the 1,812.00/1,818.00 zone.

In the near term future, the 200-hour simple moving average would approach the price and provide support. In the case of a potential surge, the rate could recover first to the 55 and 100-hour simple moving averages near 1,830.00 and afterwards the resistance zone near 1,845.00.

On the other hand, the metal could pass the support of the 200-hour SMA and look for support in the 1,800.00 level.
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Fri, 14 May 2021 06:02:05 GMT

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