The yellow metal found support in the zone above the 1,790.00 level. Meanwhile, as the price was being approached by the 200-hour simple moving average, a recovery began. By the middle of Tuesday’s European trading hours, the bullion had reached above 1,810.00.
A continuation of the surge of the yellow metal’s price could encounter resistance in the zone below the 1,820.00 marks. A passing of the resistance zone could result in the price reaching the 1,850.00 marks.
On the other hand, a decline would find support in the 55 and 100-hour simple moving averages near the 1,805.00 level before looking for support in the 1,800.00 level and the 200-hour SMA near 1,795.00.
