Technical Outlook and Chart Setups:
As depicted on 4H chart, the metal bounced off 30.70 level yesterday to 30.50 area, as expected. It would not be surprising to see a base forming around 30.50 mark still, since Fibonacci 0.618 support is passing through the same levels. More or less, the structure remains quite constructive for bulls to form a strong base and rally from here on. Support region is at 30.50/70 while resistance is 32.25 immediately. It is recommended to enter fresh long positions now.
Trading Recommendations:
Hold long positions and build fresh positions as well, stop at 29.00, target open.
Good Luck !
