Technical outlook and chart setups:
1. Now, Gold is pulling back after printing intermediary highs around the $1,296.00 levels yesterday. The metal is expected to continue rallying further up towards $1,305.00 and higher up in the sessions to come by. It is recommended to remain long, risk remains below $1,270.00 levels.
2. Support is seen at $1,270.00, followed by $1,260.00, $1,240.00 and lower while resistance is seen at $1,325.00, followed by $1,340.00 and higher up respectively.
3. The structure indicates that Gold is set to print higher highs and higher lows from here on.
Trading recommendations:
Remain long, stop below $1,270.00, target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
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