The yellow metal has appreciated 0.67% against the US Dollar since Friday morning. The pair tested the bottom boundary of the trend line early on Thursday and tried to reach the top early on Friday.
During Friday morning hours, Gold was at 1,191.10, testing the 55-hour SMA (4H) as additional support level to recover itself. It seems that the 55-hour and 100-hour SMAs should cross at today’s trading session giving strong bullish signals for traders.
The nearest support level is the monthly S2 at 1,117.90, while the nearest resistance level is the monthly S1 at 1,202.25.
