Gold drops to 1,750.00

Note: This section contains information in English only.
Source: Dukascopy Bank SA


After making four attempts to pass the resistance of the 200-hour simple moving average and even piercing it during the Federal Reserve caused volatility, on Thursday, the yellow metal's price plummeted to the 1,750.00 mark.

In the case of the metal's price passing the 1,750.00 level, the commodity could look for support in the September 18 low level at 1,742.50.

Meanwhile, a potential recovery of the metal could find resistance in the 100-hour simple moving average at 1,765.00, 55-hour SMA at 1,771.30 and the 200-hour SMA at 1,776.35.
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