Gold analysis: Once again tests 1,750.00

Dukascopy Bank Team Dukascopy Bank SA

Gold

The yellow metal found support in the 1,735.00 level and surged. At mid-day on Thursday, the commodity price was testing the resistance zone, which was located just below the 1,750.00 mark.

Note that this is the second attempt being made during this week's trading. In general, the future forecasts still remain upon whether or not the resistance zone holds.

In the case of the metal passing the resistance of the 1,750.00 level, the pair could test the March high levels above the 1,755.00 mark. On the other hand, a decline would look for support first in the 55, 100 and 200-hour simple moving averages near 1,740.00.

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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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