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During Monday's trading, the price for an ounce of gold made an attempt to approach the 1,725.00 mark and failed. By the start of Tuesday's trading, the currency exchange rate was located near the 1,705.00/1,710.00 zone. In general, previous forecasts remain valid.
In the case of a continuous recovery of the commodity price, the metal might encounter resistance in the combination of the 1,730.00 mark, the 1,732.10 level and the 200-hour simple moving average. Higher above, take into account the 1,743.85/1,752.30 zone.
However, a resumption of the decline of the commodity price might look for support in the 1,697.40/1,700.70 zone, before approaching the 2021 low level at 1,670.50.
Tue, 19 Jul 2022 07:43:05 GMT
Source: Dukascopy Bank SA
During Monday's trading, the price for an ounce of gold made an attempt to approach the 1,725.00 mark and failed. By the start of Tuesday's trading, the currency exchange rate was located near the 1,705.00/1,710.00 zone. In general, previous forecasts remain valid.
In the case of a continuous recovery of the commodity price, the metal might encounter resistance in the combination of the 1,730.00 mark, the 1,732.10 level and the 200-hour simple moving average. Higher above, take into account the 1,743.85/1,752.30 zone.
However, a resumption of the decline of the commodity price might look for support in the 1,697.40/1,700.70 zone, before approaching the 2021 low level at 1,670.50.