The precious metal has at the moment stabilized slightly above 1143.30, today’s major support level, after its latest declination that resumed from 1160.30.
In the scenario where the metal stabilizes above 1143.30, the price could appreciate as high as 1153.33 and 1169.72 respectively.
In contrast, in the event where the price breaks below 1138.50 it could decelerate further to 1125.91.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.