Technical Outlook and Chart Setups:
As seen on the 4H chart view here, the yellow metal has spent one more trading session remaining locked between the trading range 1560/65 - 1585.00. These regions are defined as near-term support and resistance, respectively. It is still recommended to stay long for now and buy during dips. Strong support is at 1550/55 now and it is expected to hold well forming bast for the next upside extension higher. Immediate resistance is 1685.00; the metal is expected to rally on a break higher.
Trade Recommendations:
Stay long for now, stop 1530.00, target remains open (1660.00 is first soft target)
Good Luck!
