Gold is looking for a higher low around the $1,170.00 levels for now, before looking to push higher through the $1,200.00/30.00 levels. The metal might have turned bullish already and is looking to print higher highs and higher lows from here on. Bulls are expected to remain in complete control until prices stay above the $1,100.00 levels broadly. Immediate support is seen at the $1,163.00 levels, followed by $1,151.00, $1,135.00 and lower, while resistance is seen at the $1,190.00 levels, followed by $1,200.00/30.00 and higher.
Trading recommendations:
Remain long also look to add further, stop is at $1,150.00, target is $1,230.00 and higher.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Technical outlook and chart setups:
Gold is looking for a higher low around the $1,170.00 levels for now, before looking to push higher through the $1,200.00/30.00 levels. The metal might have turned bullish already and is looking to print higher highs and higher lows from here on. Bulls are expected to remain in complete control until prices stay above the $1,100.00 levels broadly. Immediate support is seen at the $1,163.00 levels, followed by $1,151.00, $1,135.00 and lower, while resistance is seen at the $1,190.00 levels, followed by $1,200.00/30.00 and higher.
Trading recommendations:
Remain long also look to add further, stop is at $1,150.00, target is $1,230.00 and higher.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
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