Note: This section contains information in English only.
[ANNOUNCE]As a new month started, the yellow metal's price ended its decline in the borders of a channel down pattern. The price broke out of the pattern through its upper trend line. Moreover, the resistance of the 55-hour SMA was quickly broken. [/ANNOUNCE]
By the middle of Tuesday's GMT trading hours, the price for gold had reached the 100-hour simple moving average. If the SMA fails to provide resistance, the price could reach for the 200-hour SMA near 1,827.25.
On the other hand, note that the 100-hour SMA was located at the 1,800.00 level, which on its own provided strong support during the last week. This round price level could keep the metal down.
Tue, 01 Dec 2020 11:47:46 GMT
Source: Dukascopy Bank SA
By the middle of Tuesday's GMT trading hours, the price for gold had reached the 100-hour simple moving average. If the SMA fails to provide resistance, the price could reach for the 200-hour SMA near 1,827.25.
On the other hand, note that the 100-hour SMA was located at the 1,800.00 level, which on its own provided strong support during the last week. This round price level could keep the metal down.