The precious metal is seen rising from the three-week low it hit earlier this week. Price action is currently up over one percent intraday as it approaches the 1967 level where we might see some resistance building up.
A close above this level will possibly confirm a continuation to the upside. But in the event that price action fails to close above the resistance area, we could see a move back lower.
For now, the swing low near 1881 will be critical. A close below this low will possibly accelerate the declines.
The next lower support level is near the 1818 handle.
Test your strategy on how gold will fare with Orbex - Open your account now.
