Gold finds support in 100-hour simple moving average

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


Gold has retraced back down and found support in the 100-hour simple moving average near the 1,986.00 level. During the first part of Thursday's trading, it was spotted that the price remained below 2,000.00. The metal appeared to be needing additional support to push higher. The support could be provided by the 100-hour SMA moving higher.

The price needs to pas this week's high levels near 2,005.00 to move higher. A surge above these levels is expected to be slowed down by the upper trend line of the channel pattern and round price levels.

However, a potential decline below the 100-hour simple moving average is expected to find support in the 1,985.0 level and the lower trend line of the channel up pattern. A breaking of the pattern would highly likely result in a broader decline of the metal that could be slowed down by the 1,980.00 and 1,970.00 levels and the 200-hour simple moving average.
Back to articles

Actual Topics

Subscribe to "Fundamental Analysis" feed

订阅
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台，SWFX和其它相关交易详情，
请致电我们或要求回电。
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台，SWFX和其它相关交易详情，
请致电我们或要求回电。
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.