Technical Outlook and Chart Setup:
As it is shown above, it is becoming more probable that bulls are targeting 1643.44 level at least on the upside. The rally could also extend itself towards 1690.00 level and above. Immediate support comes in at around 1555.00 level, last Thursday low. As it was recommended on Friday, we continue the bullish outlook on the yellow metal. Buying on intraday dips is a good strategy now.
Trading Recommendations:
Stay long from Friday recommendations, stop at 1540/50, target at 1640.00 and 1690.00
Good Luck!
