Technical outlook and chart setups:
1. Gold continues to trade in a tight range between $1,308.00/10.00 and $1,330.00 as seen here. Possibilities remain that the metal may push further up to $1,356.00 levels before correcting itself. Recommendations are to exit short positions.
2. Support is seen at $1,260.00, followed by $1,240.00/30.00, $1,210.00 and lower while resistance is seen at $1,350.00/60, followed by $1,388.00 and higher up respectively.
3. The structure indicates that Gold could push higher till prices remain above $1,310.00 levels for now.
Trading recommendations:
Remain flat for now. Looking to buy lower.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
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