Gold retreats to support zone

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


The price for gold encountered resistance in the 1,760.00 level on Friday morning. The event was followed by a decline, which by mid-day was passing the 1,745.00/1,750.00 support zone and the 100-hour simple moving average.

In the case of the 1,745.00 level being passed, the metal is expected to approach the support of the 1,732.30/1,733.00 range. However, the 1,740.00 and 1,735.00 round levels could act as support.

On the other hand, a recovery of the metal's price is expected to be slowed down by the 50-hour SMA and the 1,750.00 mark and the 200-hour SMA near 1,755.00, before the 1,760.00 is reached.
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Tue, 29 Nov 2022 11:47:55 GMT

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