Technical Outlook and Chart Setups:
As 4H chart view depicts, the metal managed to rally yesterday but fell short of the first resistance around 29.50 region. Currently retracing, the metal is providing another opportunity to go long ahead of 28.60/70 region. Immediate intraday support is around 28.70, followed by swing support at the 28.30 region; while resistance ahead is at 29.50, followed by 30.10/20 and 31.20. It is recommended to hold on to long positions taken earlier, also buy during intraday dips around 28.70/80. Looking higher from here on.
Trading Recommendations:
Hold on to long positions taken earlier, stop at 27.50 (to be revised soon), target open. Please book partial profits around the 31.00 region.
Good Luck !
