09.11.201211:47 Forex Analysis & Reviews: Gold Initial Target Seen at 1,750/60 Levels Now. Buying Intraday Dips Recommended

Long-term review

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Technical Outlook and Chart Setups:

Structure remains unchanged for now. As depicted above, the yellow metal should be targeting 1,750/60 resistance now. It is possible to see intraday dips now since hourly charts are a bit stretched on the higher side. Any dips towards 1,700/10/20 region can be considered to be optimum buy levels for a run higher up towards 1,760/80 region at least. Please also note to book partial profits at each target. Support should be strong around 1,695/1,700 region now, while resistance remains lined up at 1,750/60, 1,780 and 1,795 respectively. Look higher from here.

Trading Recommendations:

Book 25%-50% profits on the long positions taken earlier. Await for a dip around 1,700-1,715 region and go long again. Target Open.

Good Luck!

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