The yellow metal has broken the previously drawn junior ascending pattern. However, it extended its gains during Thursday’s trading sessions before finally being stopped by the 200-hour simple moving average.
On Friday morning the commodity had been pushed down below various levels of significance, which were located from the 1,310 to 1,320 levels. It could have been clearly spotted that, if the 55-hour SMA would get passed, the commodity might once more reach for the strong support cluster, which was located just above the 1,301 mark.
