The price has currently stabilized slightly higher than 1193.51, a major support zone, where the bulls could most probably take a further control over the price. In the scenario where the metal escalates the price could reach as high as 1215.95.
In contrast, an aggressive downside break at 1184.28 could force the metal to decline as low as 1159.67.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.