Technical Outlook and Chart Setups:
As depicted on the 4H Chart here, yesterday the metal pulled back sharply but bounced off right at the trendline support. It is safe to assume that the structure remains intact and recommendation is to buy on dips towards 33.30/40 levels. Resistance remains at 35.10/20 levels while support is at 32.00. Please again note that 32.00 remains key for trend to remain intact. Till the time the prices stay above 32.00, the metal is expected to stay higher and print higher highs. Looking higher from here on.
Trading Recommendations:
Buy on dips towards 33.30/40 levels, stop below 32.00, and target is open.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
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