Technical outlook and chart setups:
The trend structure remains unchanged and bulls are determined to take off further resistance before a meaningful pullback begins. Resistance is spread through 1,710.00, followed by 1,720/25, and 1,753.00 levels, while support begins from 1,665.00 level, followed by 1,650/55 and 1,630.00 respectively. At the moment, through the 4H charts are a bit exhausted on indicators, bulls would want to target 1,710/20/25 resistance levels. Hence it is recommended to stay long and also buy on dips around the 1,682/85 mark.
Trading recommendations:
Hold long positions taken earlier, buy on intraday dips, stop is at 1,630.00, and target is open. Book partial profits at 1,725.00 level.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
For detail explanation and best discovery on market trends you may visit via Gold: Trend remains unchanged. 1,720/25 is immediate target . Thanks for your support on Gold: Trend remains unchanged. 1,720/25 is immediate target
No comments:
Post a Comment