Gold is still below 1,810.00

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Despite piercing the resistance of the 1,810.00 mark, the price for gold declined. By the middle of Thursday's trading, the price for the yellow metal was located in the range between 1,800.00 and 1,805.00 levels. In the meantime, it was observed that the price was ignoring the 50 and 100-hour simple moving averages.

In the case of a decline, the commodity price could look for support in the 1,795.00 mark, which acted as support on Tuesday. A move below this level could aim at the late January low level support zone above the 1,780.00 mark.

On the other hand, a surge of the metal's price would have to pass the 1,810.00 mark and the zone below it, before aiming at the 1,815.00 mark and the 200-hour simple moving average.
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