Technical outlook and chart setups:
Gold reached intraday lows at the level of $1,065.00 before pulling back higher again today. The yellow metal is trading around $1,067.00/68.00 now. We expect it to hit a highs of $1,115.00 until prices stay broadly above $1,062.00 and subsequently above $1,045.00. It is hence recommended to remain long from Friday ($1,062.00), with risk at $1,045.00. Immediate support is seen at $1,062.00 (interim) followed by $1,045.00 and lower, while resistance is seen at $1,084.00 followed by $1,088.00 and higher.
Trading recommendations:
Remain long with stop at $1,045.00, a target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com