Gold continues to trade in previous range

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


The situation on the chart for gold has not changed. 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. Previous analysis remains relevant.

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 1,955.00/1,958.00 zone. Above the resistance zone, take into account the 100 and 200-hour simple moving averages near 1,960.00.
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