Technical outlook and chart setups:
Gold is moving sideways now trading around $1,119.00/20.00. The metal might rally through the levels of $1,135.00. Please note that bears are expected to remain in control until prices stay broadly below $1,170.00. It is recommended to remain flat now, looking for an opportunity to sell again around $1,135.00. Immediate support is seen at $1,110.00 followed by $1,090.00, $1,075.00, and lower, while resistance is seen at $1,170.00 followed $1,200.00 and higher.
Remain flat for now.
The material has been provided by InstaForex Company – www.instaforex.com