By the middle of Monday’s European trading hours, the yellow metal’s price had reached the 1,790.00 level. Since passing the 1,750.00 level on Thursday, the price had been gradually climbing. In the near term future, the surge was expected to test the resistance of the 1,800.00 mark.
If the metal manages to pass the 1,800.00 level, the price could extend its surge to the 1.815.00 level. The 1,815.00 level provided the price with resistance during the second part of March.
On the other hand, in the case of a decline, the metal’s price would look for support in the lower trend line of a channel up pattern and the 55-hour simple moving average.
