On Thursday, the yellow metal’s price passed the resistance of the 1,830.00 level. The price managed to do so after finding support in the 1,820.00 level.
In the near term future, the metal could continue to gradually surge from one round price level to another. Stronger resistance would be expected from the 1,850.00 marks.
In the meantime, take into account that the metal has left below it the 55, 100, and 200-hour simple moving averages. In theory, the price could fluctuated sideways and that way consolidate until the SMAs catch up.
