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The surge of the metal's price has surged above the 2,400.00 mark. However, resistance was found in the 2,430.00 mark and a sharp decline occurred. However, it appears that after a 100 dollar drop the price found support at 2,330.00. The follow up surge has encountered resistance in the range that surrounds the 2,350.00 level and the 50 and 100-hour simple moving averages.
A move above these levels would result in the metal once again facing resistance in the 2,400.00 and 2,430.00 levels. A passing above the prior resistance levels is expected to reveal new levels. It is highly likely that 2,450.00 will act as resistance.
On the other hand, a decline is set to look for support in the 200-hour simple moving average and the 2,320.00 level.
Mon, 15 Apr 2024 13:31:42 GMT
Source: Dukascopy Bank SA
The surge of the metal's price has surged above the 2,400.00 mark. However, resistance was found in the 2,430.00 mark and a sharp decline occurred. However, it appears that after a 100 dollar drop the price found support at 2,330.00. The follow up surge has encountered resistance in the range that surrounds the 2,350.00 level and the 50 and 100-hour simple moving averages.
A move above these levels would result in the metal once again facing resistance in the 2,400.00 and 2,430.00 levels. A passing above the prior resistance levels is expected to reveal new levels. It is highly likely that 2,450.00 will act as resistance.
On the other hand, a decline is set to look for support in the 200-hour simple moving average and the 2,320.00 level.