Technical outlook and chart setups:
Gold had hit $1,244.00 levels during early hours today before pulling back lower. Please note that the metal has hit minimum expected targets as depicted here (red lines). A pullback lower is expected towards $1,205.00/10.00 levels, before the rally resumes. It is recommended to remain flat and loon to buy around $1,210.00 levels, risk remains at $1,170.00 for now. Immediate support is seen at $1,210.00/05.00 levels, followed by $1,170.00, $1,143.00 and lower while resistance is seen at $1,255.00 and higher respectively. Bulls should remain in control till prices remain above $1,170.00 for now.
Trading recommendations:
Buy around $1,210.00/05.00, stop below $1,170.00, the target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
