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The yellow metal bounced off the resistance of the 1,875.00 level, on Tuesday. The following decline ended at midnight to Wednesday, as the price found support in the 1,850.00 mark. Note that the price recently has been bouncing between round price levels. By the middle of Wednesday's trading hours, a recovery from the 1,850.00 level was taking place.
In the near term future, the price for the commodity might encounter resistance in the previously passed 1,870.00 mark and the 1,875.00 level. Above these levels, other round price levels might serve as resistance until the price reached the 1,900.00 level.
On the other hand, a decline of the metal would look for support in the 1,850.00 level, before reaching the support of the 1,840.00/1,845.00 zone.
Wed, 17 Nov 2021 13:37:12 GMT
Source: Dukascopy Bank SA
The yellow metal bounced off the resistance of the 1,875.00 level, on Tuesday. The following decline ended at midnight to Wednesday, as the price found support in the 1,850.00 mark. Note that the price recently has been bouncing between round price levels. By the middle of Wednesday's trading hours, a recovery from the 1,850.00 level was taking place.
In the near term future, the price for the commodity might encounter resistance in the previously passed 1,870.00 mark and the 1,875.00 level. Above these levels, other round price levels might serve as resistance until the price reached the 1,900.00 level.
On the other hand, a decline of the metal would look for support in the 1,850.00 level, before reaching the support of the 1,840.00/1,845.00 zone.