The precious metal is currently facing downside pressures at 1187.31, a major resistance level for today’s European trading session.
The bearish scenario has greater chances to resume, therefore if the price declines, the metal could reach as low as 1172.77 and 1161.73 respectively.
In contrast, an aggressive upside break at 1195.85, could lead the price as high as 1204.25 and 1217.55 respectively.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.