Gold Targeting Higher From Here. Retracement May Be Complete Trend News

Technical Outlook and Chart Setups:

Structurally, the yellow metal remains bullish. As expected and discussed yesterday, the metal has retraced about 1,720.00 level before pulling back. It is recommended to start building long positions from these levels in addition to the long positions taken earlier. It is still possible that the correction may continue till about 1,700.00 level, so buying could be planned accordingly. Intermediary support stands at 1,700.00 region and extends through the 1,675 region; while resistance is spread through 1,760/65, 1,780, and 1,795. Looking higher from here on.

Trading Recommendations:

Hold on to earlier long positions, take fresh long positions on dips till 1,700.00, stop at 1,680.00, and target open.

Good Luck!

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