FX.co ★ Gold: Buying On Dips Is Recommended

Technical Outlook and Chart Setups:

Fridays' rally has made a small sequence of higher highs and higher lows till now. Intermediary support is at 1,698.00 and it is expected to hold further as well. Strong support is 1,685/90 and by the time prices are above these levels, we are expecting the yellow metal to carve out higher highs and higher lows. The next lined up resistances are as follows: 1,730.00, 1,751.00, 1,775.00, and 1,795.00. Buy on intraday dips.

Trading Recommendations:

Hold on to long positions. Stop at 1,680.00. Target Open for now.

Good Luck!