The recovery of the yellow metal on Thursday stopped at the 1,765.00 level. Since the encounter of the resistance, the price has been trading sideways in the 1,750.00/1,765.00 zone.
In the case of a decline, the bullion’s price might look for support in the 200-hour simple moving average at 1,751.00, the 1,750.00 mark and the support zone of this week’s low levels below the 1,750.00 level.
On the other hand, a potential surge might find resistance in round price levels, as it has done before. However, note the resistance of the 1,781.00/1,784.00 zone.
