Gold analysis: Fails to reach 1,800.00

Dukascopy Bank Team Dukascopy Bank SA

Gold

The yellow metal made two attempts to reach the resistance of the 1,800.00 level. Both of them failed. On Thursday, the rate was declining, as by the middle of the day's European trading hours, the rate had almost reached the 55 and 100-hour simple moving averages.

If the 55 and 100-hour simple moving averages provide enough support, the commodity price could reach higher and make another attempt to pass the 1,800.00 level.

On the other hand, a failure of the SMAs could result in a decline to the 1,765.00 level, which provided support on April 20.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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