The precious metal has been succesfully escalating since the 5th of June, 2015, as the buyers seemed to be and are determined to boost the price even higher.
In the scenario that the uptrend condition prevails, bulls could lock their take profit targets close to 1204.43, the next major resistance level for today’s trading session.
Alternatively, in the event that the bulls are unable to withold the price higher, bears could take advantage of a proable price drop to 1178.69 and thereafter lock their profits at 1162.76.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.