Dukascopy Bank Team
Dukascopy Bank SA
Gold
The yellow metal's price, on Monday, retraced down and found support in the late-August high level zone near 1,805.00/1,810.00. On Tuesday morning, additional support was approaching the bullion. Namely, the 55-hour simple moving average reached above the 1,810.00 level.
If the 55-hour SMA manages to push the price up, the metal would have to pass the 1,820.00 level first. Afterwards, the high level zone near 1,830.00/1,835.00 could provide resistance.
However, a decline below the SMA would look for support in the previous high levels close below the 1,810.00 mark before reaching the 100 and 200-hour simple moving averages near 1,800.00/1,795.00.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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