Technical Analysis

Gold tests 200/100 hour MAs. Look for support buyers

100 and 200 hour MA come in at $1402.73-$1406.04

The price of gold is moving lower with the higher dollar today. IN the process, the contract is testing its 100 and 200 hour MAs at $1402.73- $1406.04 area.  The low just reached $1404.48. 

I would expect buyers to lean against the area with stops on a break below

ForexLive

Articles You May Like

ForexLive Asia FX news wrap: Trump, Liu He to meet Friday
The NZDUSD tests support and rotates back higher
Federal Reserve’s Kaplan: Concerned that the manufacturing slowdown will intensify
Forex Trading Basics (Forex For Dummies)
How to Place a Trade in Trading 212

Leave a Reply

Your email address will not be published. Required fields are marked *