Gold remains near 1,940.00

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Source: Dukascopy Bank SA


Gold continues to find support in the 1,940.00 mark and resistance is provided by the 1,955.00 level and a zone above it.

In the near term future, a potential decline of the price for gold might look for support in the 1,940.00, 1,930.00 and 1,920.00 levels, before the 1,900.00 mark is reached. Namely, previous resistance levels could turn into support.

On the other hand, a surge of the metal is set to face the 1,955.00 level, the 200-hour simple moving average near 1,960.00 and the approaching 50 and 100-hour SMAs near 1,965.00 and 1,970.00. However, prior to this occurring, note the 50-hour simple moving average, which might act as resistance.
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