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Panthera Resources Plc

Gold markets continue to hold support at major figure

Gold markets have found support again at the crucial $1500 level as traders continue to defend the large, round, psychologically significant figure. Beyond that, there is also a major moving average underneath continues offer support as well.

Gold markets have rallied slightly during the trading session on Thursday as the $1500 level continues to attract a lot of order flow. The large, round, psychologically significant figure has been one that’s been worth paying attention to for some time, and of course we also have the 50 day EMA which sits just below it offering support as well. Even further down, the $1450 level would also be supported based upon the ascending triangle that had been formed there, as it would be a retest of major resistance to see if it will act as support.

Panthera Resources Plc (LON:PAT) was incorporated in the UK and Wales in 2017. The company is focused on its gold exploration and development projects in India and West Africa and the optimisation of other mineral projects.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.