Technical outlook and chart setups:
The metal has rallied ahead and taken off the resistance at 22.50 levels as seen here. Minimum implications from here, is a retracement towards the 21.30/50 levels, before the next bull leg begins. It is recommended to remain flat for now and wait for the pullback to materialize. Initial resistance fro here is at 23.50, followed by 24.50 and 25.00; while strong support begins from 20.50, followed by 19.00 and 18.00 respectively. The 21.30/50 level is confluence of the following:
1. The fibonacci 0.618 support of rally from 20.50.
2. Back side of the dropping trend line which is support now.
3. Potential right shoulder of an inverted head and shoulder reversal.
Trading recommendations:
Remain flat for now. Look to buy lower.
Good luck!