Wed, 25 Jan 2023 11:00:29 GMT
Gold passes below support
On Wednesday morning, the price for gold passed below the 50 and 100-hour simple moving averages, the lower trend line of a channel up pattern and the 1,930.00 mark. Essentially, the price had declined due to bouncing off a resistance zone at 1,939.30/1,942.30.
An extension of the decline could look for support in the 1,920.00 level and the 200-hour simple moving