Gold fails to pass 1,950.00

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


The price for gold barely touched the 1,950.00 mark on Thursday, as a decline started. By the middle of Friday's trading, the price had passed the 50, 100 and 200-hour simple moving averages and broken the channel up pattern. At mid-day, the price reached below the 1,925.00 level.

If the metal continues to decline, support might be found in the 1,916.50/1,921.65 zone, which acted as support on Wednesday and Thursday. Further below, the 1,900.00 mark and the 1,890.50/1,893.40 zone is expected to stop a decline.

However, a surge of the metal's price is expected to find some resistance in the 50, 100 and 200-hour simple moving averages in the 1,927.00/1,935.00 range. Higher above, note the 1,940.00 and 1,950.00 levels.
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Mon, 04 Apr 2022 08:25:47 GMT

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