Technical Outlook and Chart Setups:
Gold threatened to break past 1,700.00 levels last evening but managed to hold it good and further follow it up through 1,713.00 level. This is an indication that further gains are lined up from here on. Any intraday pullbacks from here should be considered as opportunities to go long again. Immediate support is placed and intact at 1,695/90 levels. The next resistance level is lined up at 1,730.00 levels. This would instill further confidence in the bullish structure. It is recommended to look for buying opportunities.
Trading Recommendations:
Stay long for now. Stop at 1,680.00 level. Target open.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
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