Technical outlook and chart setups:
1. Gold is stalling out around the $1,340.00 levels for now as seen here. A push higher towards $1,356.00 levels is still a possibility, though. It is recommended to buy on dips from here on. The expected levels of correction are between $1,280.00/90.00.
2. Support is seen at $1,280.00 (fibonacci), followed by $1,260.00, $1,240.00/30.00 and lower while resistance is seen at $1,350.00/60, followed by $1,388.00 and higher respectively.
3. The structure indicates that Gold is buy on dips from here on. Interest is around $1,280.00/90.00 levels.
Trading recommendations:
Look to buy around $1,280.00/90.00 levels.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
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