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The price for gold has found support in the 50-hour simple moving average. By the middle of Tuesday's trading hours, the SMA had stopped three declines of the metal's price.
If the 50-hour simple moving average continues to push the price up, the 1,865.00 level could act as resistance, before testing the resistance of other round price levels.
On the other hand, a decline of the commodity below the moving average could look for support in the 1,850.00 mark and the 100 and 200-hour simple moving averages near 1,840.00 and 1,830.00.
Tue, 24 May 2022 11:04:48 GMT
Source: Dukascopy Bank SA
The price for gold has found support in the 50-hour simple moving average. By the middle of Tuesday's trading hours, the SMA had stopped three declines of the metal's price.
If the 50-hour simple moving average continues to push the price up, the 1,865.00 level could act as resistance, before testing the resistance of other round price levels.
On the other hand, a decline of the commodity below the moving average could look for support in the 1,850.00 mark and the 100 and 200-hour simple moving averages near 1,840.00 and 1,830.00.