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The yellow metal's price passed the resistance of the 1,800.00 level on Friday morning. The 1,800.00 kept the price from surging since early September 8.
However, the price almost immediately encountered resistance near 1,808.00. In the case that the price passes the critical resistance level at 1,808, the bullion could test the resistance of the 200-hour SMA at 1,809.50. Above the 200-hour SMA, the summer high levels at 1,830.00/1,835.00 might once again serve as resistance.
However, a bounce off from resistance would possibly look for support at 1,795.00. Below the support zone, which is just below 1,785.00, the price might find some support.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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