Technical outlook and chart setups:
A 4H wave structure for the yellow metal remains unchanged for now. As depicted here, immediate support is at 1,665.00 level, followed by 1,650.00 and 1,625/30; while resistance is at 1,720/25, followed by 1,750 respectively. Charts remain exhausted at the moment, but a push towards 1,710/20 levels remains quite possible before a meaningful pullback materializes. Therefore, it is recommended to take any intraday dips as opportunities to build long positions. Immediate trendline support is at 1,685.00 level for now.
Trading recommendations:
Hold on long positions. Build further longs on intraday dips. Stop is at 1,630.00. Target is open.
Good Luck!
