Technical outlook and chart setups:
Gold plummeted at lows of $1,077.00 and hit a low of $1,075.00 before staging a sharp pullback towards $1,090.00. The metal has reached the stop order at $1.075.00 and is calling for staying flat now. The metal needs to be pushed further to the levevl of $1,095.00 at least before we can confirmed that bulls are back in control again. Immediate support is seen at $1,075.00 (interim) followed by $1,050.00/30.00, and lower, while resistance is seen at $1,095.00 and higher.
Trading recommendations:
Remain flat now.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com