Mon, 24 Oct 2022 08:28:12 GMT
Gold breaks pattern
At mid-day on Friday the price for gold suddenly surged and broke the channel down pattern to the upside. By the start of Monday's trading, the 1,670.00 level had been touched. The 1,670.00 acted as resistance and caused a decline. By mid-Monday, the price had almost reached the 50 and 100-hour simple moving averages near 1,640.00.
A decline below 1,640.00