Gold reaches new low level

Source: Dukascopy Bank SA


The price for gold pierced the 1,910.25 level on Wednesday morning European hours. The event could result in a broader decline.

Potential targets for a decline are the 1,900.00 mark and the 1,895.00 level. Both of these levels have acted as support and resistance in the past.

On the other hand, a potential recovery has to pass above 1,910.25 and the combination of the 1,920.00 mark and the 50 and 100-hour simple moving averages, before once again attempting to reach above 1,930.00.
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