06.10 - Gold prices struggle to keep the previous day’s recovery moves
- by George Solotarov
Gold takes rounds to $1,910 while heading into Tuesday’s European session. In doing so, the bullion resists in extending Monday’s run-up beyond the $1,900 threshold. Even if the precious metal buyers manage to conquer the $1,914.80 immediate resistance, a downward sloping trend line from September 18, at $1,932 now, becomes the key to break.
While the recently improving conditions suggest further upside of the yellow metal, buyers will have to cross the tough nuts to regain controls above $1,932. Alternatively, sellers may also not be too lucky unless breaking a short-term ascending support line near $1,892. Though, their happiness to revisit the $1,900 mark can’t be ruled out.