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Gold rebounded towards 100/200 day moving averages

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Moving averages are just below the $ 1,800 level

The price of gold has risen sharply in trading today. It is currently up $ 35 or 1.99% to $ 1,794.60. The high price has reached $ 1,795.59 so far.

In doing so, the price is testing its 200-day moving average at $ 1,795.66. The 100-day moving averages are just above that level at $ 1,799.87. Of course, the $ 1800 level is also a natural resistance level which increases the importance of zones from a technical standpoint.

Move over and buyers have more control. Stay below and it looks like the 200 day moving average test on September 16 where sellers leaned in and the price came back down.

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