Gold aims at March high levels

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


Last week, the yellow metal broke the resistance zone near 1,725.00 and surged above it. Afterwards, the zone was confirmed as support before the surge of the commodity price resumed.

On Tuesday, the bullion's price was heading to the resistance zone above the 1,745.00 level. This zone provide the metal with resistance during the second part of March. Namely, it reversed an attempted recovery.

In the case of the metal passing above the 1,745.00 level, the price could find resistance first in the round price level at 1,750.00 and afterwards the March high level near 1,755.00. If all of these levels would be passed, the price might reach for the 1,800.00 level.

On the other hand, a decline from the 1,745.00 level should look for support in the mentioned zone near 1,725.00. In addition, the 55, 100 and 200-hour simple moving averages could provide support.
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