Gold faces resistance at 2,070.00

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


The surge of the price for gold face the resistance of the 2,070.00 level. However, most recently, the 50-hour simple moving average has been pushing the commodity up and could cause a breaking of the resistance.

In the case of a surge above 2,070.00, the 2,075.00 and 2,090.00 levels could slow down the commodity price, before the 2,100.00 would be reached.

On the other hand, a decline of the commodity price below the 50-hour simple moving average would look for support in the 2,055.00 and 2,050.00 levels. In addition, note that the 100-hour simple moving average was strengthening the 2,050.00 mark during Wednesday's trading.
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