Note: This section contains information in English only.
The price of gold continues to move higher. By mid-Monday, the price was far above the 2,700.00 mark. However, the metal appears to have encountered resistance in the 2,740.00 level and the upper trend line of a channel up pattern.
The consolidating decline of the metal could look for support in the 2,720.00 level and the 50-hour simple moving average, before the rate's decline approaches the 2,700.00 mark and the lower trend line of the channel up pattern.
In the case of a resumption of the surge, the metal would have to break the 2,740.00 level and the upper trend line of the channel pattern, before testing the 2,750.00 mark.
Mon, 21 Oct 2024 14:46:22 GMT
Source: Dukascopy Bank SA
The price of gold continues to move higher. By mid-Monday, the price was far above the 2,700.00 mark. However, the metal appears to have encountered resistance in the 2,740.00 level and the upper trend line of a channel up pattern.
The consolidating decline of the metal could look for support in the 2,720.00 level and the 50-hour simple moving average, before the rate's decline approaches the 2,700.00 mark and the lower trend line of the channel up pattern.
In the case of a resumption of the surge, the metal would have to break the 2,740.00 level and the upper trend line of the channel pattern, before testing the 2,750.00 mark.