Technical outlook and chart setups:
1. Gold breaks resistance line and immediate price resistance at $1,300.00 levels last week. The metal is expected to dip from current levels to at least $1,285.00 levels before rallying further. Recommendations are to remain flat for now and look to buy lower.
2. Support is seen at $1,260.00, followed by $1,240.00, $1,230.00 and lower while resistance is seen at $1,330.00, followed by $1,350.00/60.00, $1,388.00 and higher respectively.
3. The structure indicates that Gold has entered buy zone and dips should be bought from here on.
Trading recommendations:
Look to enter buying around $1,285.00.
Good luck!
