Gold finds support near 1,960.00

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


The price for gold has revealed resistance and support zones. Support is found at 1,957.25/1,964.20. Resistance is encountered at 1,984.20/1,987.70. Meanwhile, the price appears to be respecting the 50 and 100-hour simple moving averages.

A move above the 50 and 100-hour simple moving averages could result in another test of the 1,984.20/1,987.70 range. Higher above, note that the 2,000.00 mark is bound to act as resistance.

On the other hand, a decline of the commodity would have to pass below the support range at 1,957.25/1,964.20, before reaching the 1,940.00 and 1.950.00 levels.
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