Gold finds resistance at 1,870.00

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


On Monday, the yellow metal fulfilled the scenario of reaching the 1,845.00 mark. The 1,845.00 level provided support and caused an immediate recovery, which reached the 1,870.00 level. The 1,870.00 level continued to provide resistance into Tuesday. Meanwhile, the 1,850.00 level was providing support. Namely, the price fluctuated in a 20.00 USD range.

In the case of the price ending the sideways trading to the upside, the metal could reach the combined resistance of the 55-hour simple moving average and the resistance of the 1,875.00 level.

On the other hand, a potential decline could once again reach the 1,845.00 zone.
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