Gold is trading around $1,146.00 at the moment. It remains just shy of earlier swing lows around $1,143.00. Please note that a bullish bounce here could still resume its uptrend but a break below would be extremely bearish opening doors towards $1,030.00/50.00 before the overall uptrend could resume. It is recommended to remain long for now, with risk at $1,143.00. Immediate support is seen at $1,143.00 while resistance is seen at $1,167.00/68.00 respectively.
Trading recommendations:
Remain long for now with risk at $1,143.00, a target is open.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Technical outlook and chart setups:
Gold is trading around $1,146.00 at the moment. It remains just shy of earlier swing lows around $1,143.00. Please note that a bullish bounce here could still resume its uptrend but a break below would be extremely bearish opening doors towards $1,030.00/50.00 before the overall uptrend could resume. It is recommended to remain long for now, with risk at $1,143.00. Immediate support is seen at $1,143.00 while resistance is seen at $1,167.00/68.00 respectively.
Trading recommendations:
Remain long for now with risk at $1,143.00, a target is open.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
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