Technical Outlook and Chart Setups:
The trade setup remains quite interesting at the moment for volatility traders; since the yellow metal is providing opportunities on both sides. Let's evaluate the current setup:
1. Gold had bounces of 1,672.00 in November and registered fresh swing highs near 1,755.00 before retracing lower.
2. Till 1,672.00 remains intact, there are possibilities of bullish breakout.
3. At the moment it is moving in a narrow trading range, forming a cone and it is on the lower side of the range.
Trading Recommendations;
1. Book profits on short positions taken yesterday.
2. Buy now. Stop is at 1,670. Target is open.
Good Luck !
