Gold remains below 1,800.00

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


In the aftermath of reaching below the 1,800.00 level, the yellow metal's price has been finding support and resistance in round price levels. For example, the 1,760.00, 1,790.00 and 1,770.00 levels have been acting as support and resistance levels. In the meantime, the rate confirmed the 1,800.00 mark as resistance.

In the case of a potential surge, the price would have to pass the resistance of the 1,790.00 level and the 1,800.00 mark. By reaching above these levels, the price could potentially reach for the 1,840.00 level and the 200-hour simple moving average just below it.

On the other hand, a decline would look for support in the mentioned 1,760.00 and 1,770.00 levels before reaching the 1,750.00 mark.
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