Gold trades below 1,750.00

Source: Dukascopy Bank SA


The price for gold has declined below the combination of the 1,750.00 mark and the 200-hour simple moving average. By the start of Monday's US trading hours, the commodity price had almost reached the 1,735.00 level.

An extension of the decline could find support in the 1,730.00 level, which marks the September high level zone. However, in early November, the price ignored the level. Further below, note the support zone below 1,705.00.

On the other hand, a recovery of the metal's price might encounter resistance in the 1,745.00 level, before testing the combination of the 1,750.00 level and the 50 and 200-hour simple moving averages. Above 1,750.00, take into account the 1,766.15/1,768.30 zone and the 100-hour simple moving average.
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Tue, 22 Nov 2022 08:45:09 GMT

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