Gold reaches March low level

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Source: Dukascopy Bank SA


Talks between Russia and Ukraine have been attributed to an ongoing risk on sentiment. On the gold charts, the sentiment resulted in the breaking of the channel up pattern, which recently guided the price up, and a decline that pierced the March low level. By 16:00 GMT on Tuesday, the price for gold had recovered to the 1,915.00 mark.

If the price continues to surge, it is expected to find some resistance in the 1,920.00 and 1,925.00 levels, before the metal reaches the hourly simple moving averages near the 1,930.00 level.

However, a potential decline of the commodity price is highly likely going to look for support in the recent low level zone at 1,890.50/1,893.60.
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Wed, 30 Mar 2022 09:01:30 GMT

EUR/JPY retreats below support zone

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