Technical outlook and chart setups:
1. Gold rallied last week and took out resistance at $1,300.00/10.00. At the moment the metal is consolidating gains and is expected to retrace lower towards $1,280.00/85.00 before rallying further up.
2. Support is seen at $1,260.00, followed by $1,240.00, $1,230.00, $1,210.00 and lower while resistance is seen at $1,330.00, followed by $1,350.00/60 and higher up respectively.
3. The structure indicates that Gold shall remain bullish till prices stay above $1,260.00 levels for now.
Trading recommendations:
Buy on dips at last around $1,285.00.
Good luck!
