Gold reaches new high

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


The price for Gold has continued to move higher after finding support in 2,160.00 last week. At the start of April, the price almost reached the 2,270.00 level, before selling started. However, the metal eventually found support at 2,225.00/2,230.00. By mid-Tuesday, the price was again testing the April high levels.

Meanwhile, it has been spotted that the surge might have been supported by an ascending trend line. In addition, the 50, 100 and 200-hour simple moving averages are following the price and provide upwards pressure.

A move above the resistance range could eventually result in the price reaching a new all-time high at 2,300.00.

On the other hand, a decline below the supporting trend line is expected to look for support in the 50-hour simple moving average near 2,250.00. Further below, take into account the 2,225.00/2,230.00 range.
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