Technical outlook and chart setups:
The trend remains intact for the white metal. A 4H view depicted here may be hinting a possible pullback towards 30.00/50 levels before rallying further up. Initial resistance is seen at 31.50, followed by 32.50, 33.80, and 34.30; while support levels extend through 29.60/70 levels respectively. It is recommended to hold long positions taken earlier and use intraday dips as further buying opportunities. Anything between 30.00 and 30.50 could be considered as optimum long entry.
Trading recommendations:
Hold on long positions taken earlier, buy further on dips, stop is at 29.00, and target remains open.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
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