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The resistance of the 1,910.00 mark was enough to force the yellow metal's price into a decline, which shortly pierced the 1,870.00 level, before starting a recovery. However, by late Friday's trading hours, the price did not manage to reach not only above the 1,900.00 mark, but also the 1,895.00 level.
If the price eventually manages to approach and pass above the 1,900.00 level, it is highly likely that the 1,910.00 mark would once again act as resistance.
On the other hand, a potential decline is expected to look for support in round price levels, prior to reaching the May low levels at 1,850.40/1,854.30.
Fri, 06 May 2022 18:32:47 GMT
Source: Dukascopy Bank SA
The resistance of the 1,910.00 mark was enough to force the yellow metal's price into a decline, which shortly pierced the 1,870.00 level, before starting a recovery. However, by late Friday's trading hours, the price did not manage to reach not only above the 1,900.00 mark, but also the 1,895.00 level.
If the price eventually manages to approach and pass above the 1,900.00 level, it is highly likely that the 1,910.00 mark would once again act as resistance.
On the other hand, a potential decline is expected to look for support in round price levels, prior to reaching the May low levels at 1,850.40/1,854.30.