The sharp surge of the yellow metal’s price ended just before the metal reached the 1,750.00 level. Since the middle of Tuesday’s trading, the price was trading sideways between the 100-hour simple moving average and the 1,750.00 level.
In the case of the metal passing the resistance of the 1,750.00 level, the pair could test the March high levels above the 1,755.00 mark.
On the other hand, a passing of the support of the 100-hour SMA could reach the 55 and 200-hour SMAs below the 1,740.00 level.
