- Gold prices keep recovery moves from weekly support line.
- An upside break of $1,733 could probe the weekly top.
- Sellers await a clear break below $1,721 to aim for a $1,700 mark.
Gold probes intraday high while taking the bids near $1,727 during the pre-European session on Friday. In doing so, the bullion prints 0.23% gains while keeping bulls hopeful above 200-HMA.
Hence, the precious metal might extend the recovery moves from a weekly support line towards probing the previous day’s top close to $1,738. Though, $1,745.12, the monthly top, could challenge the bulls afterward.
In a case where the safe-haven prices remain strong beyond $1,745.12, May month high around $1,765/66 might lure the buyers.
Alternatively, a downside break below 200-HMA level of 1,724 can take a rest on the ascending trend line stretched from Monday, at $1,720.70 now.
Should there be a clear break below $1,720.70, the weekly low near $1,704.30 and $1,700 might return to the charts.
Gold hourly chart
Trend: Sideways
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