Technical Outlook and Chart Setups:
As 4H chart shows, the metal seems to have formed a base just shy of the 30.50 mark. The 30.70 level should provide strong support for the expected rally which should take prices to 33.60/70 levels in the sessions to come. Intermediary resistance is at the 32.30 and 32.50 levels which should be taken out comfortably by the bulls. It is hereby strongly recommended to hold earlier long positions and take fresh longs as well today. Look higher now.
Trading Recommendations:
Hold on to earlier long positions, take fresh long now (30.85), stop at 29.00, target open.
Good Luck !
The material has been provided by InstaForex Company - www.instaforex.com
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