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The sharp surge of the yellow metal found resistance in the 1,800.00 level. By the middle of Friday's trading, the price had made two failed attempts at passing above the 1,800.00 mark. Meanwhile, it could be spotted that the 200-hour simple moving average was providing support near 1,790.00.
If the price manages to move above the 1,800.00 level, it could aim at the October high level zone at 1,810.20/1,814.00. Above this zone round price levels could slow down a surge to the summer high level at 1,830.00.
Meanwhile, a decline below the 200-hour SMA might find support in the 100-hour SMA at 1,786.50 and the 50-hour SMA at 1,784.00.
Fri, 05 Nov 2021 12:20:01 GMT
Source: Dukascopy Bank SA
The sharp surge of the yellow metal found resistance in the 1,800.00 level. By the middle of Friday's trading, the price had made two failed attempts at passing above the 1,800.00 mark. Meanwhile, it could be spotted that the 200-hour simple moving average was providing support near 1,790.00.
If the price manages to move above the 1,800.00 level, it could aim at the October high level zone at 1,810.20/1,814.00. Above this zone round price levels could slow down a surge to the summer high level at 1,830.00.
Meanwhile, a decline below the 200-hour SMA might find support in the 100-hour SMA at 1,786.50 and the 50-hour SMA at 1,784.00.