Gold reaches below 1,930.00

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


The price for gold has passed below the 1,930.00/1,932.25 range. Moreover, the previous support has turned into resistance. On Wednesday, the price was facing the 1,930.00/1,932.25 zone's and the 50-hour simple moving average's resistance. Meanwhile, support was found in the 1,925.00 level and the 1,920.30/1,922.60 range.

In the case of a decline below 1,920.30 the commodity price could look for support in the 1,915.00 and 1,910.25 levels, before approaching the lower trend line of a channel down pattern.

However, a recovery of the metal would have to break the combined resistance of the 1,930.00/1,932.25 range and the 50 and 100-hour simple moving averages. Higher above, note the 1,935.00 and 1,940.00 levels, which might act as resistance.
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