Sat, Sep 25, 2021 @ 18:34 GMT
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Gold Analysis: Reaches Above 1,800.00

On Monday morning, the yellow metal traded above the 1,800.00 level. Meanwhile, support was being provided by the combination of the 100-hour simple moving average and the 1,805.00 level. Resistance was being found in the 1,810.00 level and the 200-hour simple moving average.

If the rate breaks resistance near 1,810.00, the price of the metal could test the upper trend line of a channel down pattern near 1,813.00. Afterwards, the bullion could reach for the late July high level at 1,825.00.

On the other hand, a decline of the metal would most likely find support in the 1,800.00 level and the 55-hour simple moving average.

Dukascopy Swiss FX Group
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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