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By mid-Tuesday, the situation on gold charts remained unchanged, as the commodity price continued to trade above the 1,930.00/1,932.25 range.
A move below 1,930.00 is set to find support at 1,925.00, prior to the commodity price reaching the support range above 1,920.00.
On the other hand, a surge of gold's price is expected to face resistance in the combination of the 1,940.00 level and the 50 and 100-hour simple moving averages. Higher above, take into account the 1,945.00 and 1,950.00 levels and the 200-hour simple moving average.
Tue, 08 Aug 2023 10:41:23 GMT
Source: Dukascopy Bank SA
By mid-Tuesday, the situation on gold charts remained unchanged, as the commodity price continued to trade above the 1,930.00/1,932.25 range.
A move below 1,930.00 is set to find support at 1,925.00, prior to the commodity price reaching the support range above 1,920.00.
On the other hand, a surge of gold's price is expected to face resistance in the combination of the 1,940.00 level and the 50 and 100-hour simple moving averages. Higher above, take into account the 1,945.00 and 1,950.00 levels and the 200-hour simple moving average.