Analysis | Commodity Market Commentaries |
Written by GCI Financial |
Wed Feb 15 17 02:20 ET
For the 24 hours to 23:00 GMT, Gold rose 0.22% against the USD and closed at USD1229.20 per ounce, reversing its previous session losses.
In the Asian session, at GMT0400, the pair is trading at 1227.10, with the gold trading 0.17% lower from yesterday’s close.
The pair is expected to find support at 1221.20, and a fall through could take it to the next support level of 1215.30. The pair is expected to find its first resistance at 1234.50, and a rise through could take it to the next resistance level of 1241.90.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
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