The Tuesday morning forecast fulfilled itself only on Wednesday morning, as the US Dollar attempted to score additional gains during the second half of Tuesday’s trading. However, on Wednesday morning the bullion reached the resistance of the 55-hour SMA near the 1,247.50 mark. Day traders were and will be watching this level of significance. The reason for that is that it could force the metal to make another attempt to pass the support at 1,243.59 level. On the other hand, if the resistance of the SMA is broken, the commodity price might surge above the 1,250 mark, as the closest resistance is located at the descending 100-hour SMA just above the mentioned level.
