Technical Outlook and Chart Setups:
As seen from the 4H chart view, the yellow metal has taken out the first resistance at 1615/20 level yesterday. At the moment it is retracing down towards probable 1580/85 level to resume further rally. Immediate support intraday is around 1580.00 area while 1555.00 is strong support which should hold now. Resistance is at 1630/35, followed by 1645/50 and higher up. It is recommended to hold long positions taken earlier and also look to add further today on dips. Looking higher from here on.
Trading Recommendations:
Hold on to long positions, add further on dips today, stop at 1540/50, target open. Please book partial profits around 1650.00 region.
Good Luck !
