Gold finds support

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


As it was speculated, the price for gold found support in a round price level. That level turned out to be the 1,860.00 level. The support was enough to cause a recovery up to the resistance of the 50-hour simple moving average and the 1,875.00 level.

A move above 1,875.00 could result in the commodity price almost immediately encountering resistance in the 1,880.00 level. Above 1,880.00, the combination of the 100-hour simple moving average and the 1,895.00 level might act as resistance.

However, in the case of a resumption of the decline, the rate could look for support in the 1,860.00 and 1,850.00 levels.
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Tue, 03 Oct 2023 14:15:29 GMT

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