Gold respects 1,960.00 and 1,975.00

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Source: Dukascopy Bank SA


The price for gold has been ignoring the 50, 100 and 200-hour simple moving averages. Meanwhile, it has been respecting round price levels. Namely, the 1,960.00 and 1,975.00 levels have shown to be able to reverse the price's direction.

A move above 1,975.00 could be slowed down by other round price levels. Eventually, a potential surge would once again test the 2,000.00/2,010.00 range.

However, a decline is expected to look for support in 1,960.00, 1,950.00 and the last week's low level zone at 1,934.30/1,937.15.
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