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The decline of the price of the yellow metal eventually found support in the 1,732.40 level. The event was followed by a recovery, which by mid-Tuesday had approached the 50-hour simple moving average near 1,747.00.
A move above the 50-hour simple moving average could encounter resistance in the 1,750.00 mark. Higher above, note the combination of the 100 and 200-hour simple moving averages near 1,755.00. Above all these levels, take into account the 1,766.20/1,768.30 zone.
On the other hand, a decline of the commodity price might find support in the 1,740.00 and 1,735.00 level, before reaching the Monday's low level at 1,732.40.
Tue, 22 Nov 2022 09:28:02 GMT
Source: Dukascopy Bank SA
The decline of the price of the yellow metal eventually found support in the 1,732.40 level. The event was followed by a recovery, which by mid-Tuesday had approached the 50-hour simple moving average near 1,747.00.
A move above the 50-hour simple moving average could encounter resistance in the 1,750.00 mark. Higher above, note the combination of the 100 and 200-hour simple moving averages near 1,755.00. Above all these levels, take into account the 1,766.20/1,768.30 zone.
On the other hand, a decline of the commodity price might find support in the 1,740.00 and 1,735.00 level, before reaching the Monday's low level at 1,732.40.