Gold finds resistance at 1,965.00

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


The breaking of the 1,950.00 level's resistance has resulted in a surge to the 1,965.00 mark, which provided resistance. The following decline eventually reached back to the 1,950.00 level by the middle of Friday's trading.

If the commodity price clearly declines below the 1,950.00 mark, support might be found in the 100-hour simple moving average near 1,940.00 and the 200-hour SMA near 1,930.00. Further below, round price levels could act as support, prior to the price reaching the March low levels at 1,895.00/1,905.00.

On the other hand, a surge of the price is expected to once again encounter some resistance at 1,965.00, before the 1,971.00/1,979.00 zone is tested.
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