Mon, 06 Dec 2021 16:16:43 GMT
Gold respects moving averages
On Monday, the yellow metal found resistance in the 200-hour simple moving average near 1,785.00. Meanwhile, support was being provided by the 50-hour simple moving average near 1,775.00.
If the commodity passes the resistance of the 200-hour SMA, it could aim at the upper trend line of the channel down pattern, which captures the last week's decline. On the other hand,