Gold moves above resistance zone

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


At mid-day on Tuesday, the price for gold once again moved above the resistance zone at 1,913.50/1,922.00. In the meantime, the commodity was finding support in the 100-hour simple moving average near 1,911.20.

If the commodity price continues to surge, it might encounter resistance in the 1,930.00 mark, which reversed the early Monday's surge. Higher above, other round price levels could act as resistance, before reaching the last week's high level at 1,975.00.

Meanwhile, a potential decline would have to pass the support of the 100-hour simple moving average, before approaching the 1,900.00 mark. Note that the 1,900.00 mark is being strengthened by the 50 and 200-hour simple moving averages.
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Wed, 02 Mar 2022 09:11:19 GMT

EUR/JPY reaches 127.50 level

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