Gold fails at recovery - Technical Analysis - Dukascopy Bank

Mon, 08 Mar 2021 10:24:04 GMT
Source: Dukascopy Bank SA
 


The yellow metal ended its sideways trading by surging to the resistance of the 100-hour simple moving average, which held and caused a decline. During the early Monday's trading hours, the rate had reached the support of the 1,690.00 level.

If the 1,690.00 provides support once again, the metal's price could make another attempt to pass the resistance of the 100-hour simple moving average.

On the other hand, in the case of the 1,690.00 level failing, the pair could look for support in the lower trend line of the channel down pattern, which captures the price's one month long decline.

Back to feed
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.