Technical outlook and chart setups:
Gold is trading lower around the level of $1,095.00 levels for now, consolidating before pushing higher towards $1,130.00/40.00 levels. The metal remains in control. The metal us likely to find support around $1,030.00 as discussed earlier. It is recommended to remain flat for now and look for an opportunity to sell higher towards $1,130.00/40.00. Immediate support is seen at the level of $1,087.00 (interim), followed by $1,052.00, $1,030.00, and lower, while resistance is seen at $1,130.00/40.00 followed by $1,150.00, $1,175.00, and higher respectively.
Trading recommendations:
Remain flat now.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com