The precious metal is currently oscillating between the range of today’s two major levels, the 1161.16 and 1168.14 respectively.
In the scenario where the metal breaks above 1168.14, the first critical level, the buyers could likely exert strong upside pressures and lead the price aggresively higher. The main take profit targets could be 1187.92 and 1202.63 respectively.
Alternatively, the second level, 1161.16, could be feautured as a probable bearish break-out zone where the sellers, in the event of a price deceleation, could force the metal even lower toward 1149.88.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.