- Gold has declined to trade around 1089 levels, giving earlier gains made in European session, as the moves were range bound in thin liquidity in a holiday shortened day.
- The yellow metal is poised to rebound towards higher level as the commodity faces strong support at 1080 levels.
- To the upside, the strong resistance can be seen 1093, a break above this level would expose the commodity towards 1098 levels.
- To the downside immediate support can be seen at 1088, a break below at this level will open the door towards 1080 levels.Recommendation: Go long around 1085, targets around 1098/1105, SL 1060Support levels: S1-1088, S2-1080, S3-1073Resistance levels: R1-1093, R2-1098, R3-1108
The material has been provided by InstaForex Company – www.instaforex.com