FX.co ★ Gold Rally Materialized. Morning Star On Daily Charts. Hold Long Positions

Technical Outlook and Chart Setups:

Finally, the yellow metal rallies and breaks past the dropping line of resistance (as depicted above) and also clears 1,730.00 resistance. A pullback is expected now towards at least 1,700.00 levels before the rally continues. It is recommended to buy on dips, as close to 1,700.00 levels; this trade strategy should go a long way ahead. Next levels of resistance are lined up resistance levels 1,750/60, 1,780, and 1,795 respectively. Look higher from here on.

Trading Recommendations:

Hold on to buy positions taken yesterday. Stop at 1,670.00. Target Open.

Good Luck!