Gold fails to reach 1,825.00

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Source: Dukascopy Bank SA


The price for gold surged late on Monday. However, the price did not reach the 1,825.00 mark, as the surge ended near the 1,823.00 level. On Tuesday, the commodity retraced downwards, as the metal was looking for future direction.

If the commodity price continues to surge, it should reach for the resistance of the 1,825.00 level. Higher above, the summer high levels near 1,830.00 might act as resistance and stop a surge.

Meanwhile, a decline of the price might look for support in the 1,815.00 level and the 50-hour simple moving average, before reaching the 100-hour SMA and the 1,810.00 mark.
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Wed, 09 Feb 2022 09:26:29 GMT

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