Gold follows SMAs

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The gold price is listening to the simple moving averages of the hourly chart. 

Namely, the 200-hour SMA is providing support and keeping the rate from falling lower. In the meantime the 55 and 100-hour SMAs are providing resistance.  

In general, the commodity price should get squeezed in between the simple moving averages. The 200-hour SMA will push higher until it will meet with the 55-hour SMA. At that moment or even before that a break out should occur. A break out could go both ways - up or down.
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Mon, 25 Feb 2019 09:46:59 GMT

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