Gold found support in the 1,700.00 price level. It resulted in a surge, which by the middle of Monday’s European trading hours had reached above the 1,730.00 level.
In the case of the surge continuing, the price could test the resistance of the 1,740.00 level, which provided resistance on Thursday. If this level gets passed, most likely the 1,750.00 level would provide resistance.
On the other hand, a decline would look for support in the 55-hour simple moving average, which kept the price up since late Friday’s trading hours.
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