The rapid decline in gold during Wednesday's trading session saw XAU/USD slip back from the $2,000 threshold to test $1,990, falling below the 50-hour Simple Moving Average (SMA).
Despite the pullback on Wednesday, gold continues to advance, with XAU/USD up over 3% from the recent low near the 200-day SMA at around $1,931. The $2,000 level proves to be a technical barrier, and the short-term trading range of spot gold will be determined by whether the 200-day SMA can provide support for any declines towards $1,940.
Despite the pullback on Wednesday, gold continues to advance, with XAU/USD up over 3% from the recent low near the 200-day SMA at around $1,931. The $2,000 level proves to be a technical barrier, and the short-term trading range of spot gold will be determined by whether the 200-day SMA can provide support for any declines towards $1,940.
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.