Gold extends recovery

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


The recovery from the 1,890.50/1,893.60 zone continued during Wednesday's trading hours. By 15:00 GMT, the price for gold was approaching combined resistance of the 100-hour simple moving average at 1,937.50 and the 1,940.00 mark.

If the price for gold manages to pass above the 1,940.00 level, next targets for the commodity might be the 1,950.00 mark and the late March high level at 1,966.50.

On the other hand, a bounce off from 1,940.00 is expected to look for support in the 1,930.00 and 1,920.00 levels, before approaching the 1,900.00 mark and the support zone at 1,890.50/1,893.60.

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