Gold remains below 1,810.00

Source: Dukascopy Bank SA


The price for gold continues to test the resistance zone below the 1,810.00 mark. Meanwhile, it was observed that the 1,795.00 mark was providing support. At mid-Wednesday, the price was located in the resistance zone. Due to that reason, previous forecast scenarios remain unchanged.

A move above the resistance zone and the 1,810.00 level could result in a test of the 1,815.00 level. Higher above, take into account the 1,825.00 mark and the 200-hour simple moving average near 1,820.00.

On the other hand, the price might bounce off the resistance zone. A potential decline would most likely look for support first in the 1,800.00 level, before reaching the 50-hour simple moving average near 1,795.00.
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