Gold analysis: Trades below 1,750.00
|Gold
The price for gold started the week by trading below the resistance of the 55 and 100-hour simple moving averages and the 1,745.50/1,747.50 zone.
If the mentioned resistance levels force the price into a decline, the commodity price could look for support in the 1,735.00 and 1,730.00 levels. Afterwards, the support of the 200-hour simple moving average near 1,725.00 might keep the price from falling.
On the other hand, a failure of the 55 and 100-hour SMAs and the zone above 1,745.00 to keep the price down would most likely result in another test of the March and April high levels.
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