On Friday, gold’s price broke off the hourly simple moving averages. On Monday, there was a surge that started when the rate bounced off the support of the 200-hour SMA.
In general, the pair had no technical resistance as high as the pivot point at 1,570.00. In theory, the price should reach for this level.
On the other hand, the rate could trade sideways, as it waits for the support of the SMAs to push it higher.
