Gold outlook and important levels for today

Yesterday we saw a huge up-move which has led to the breakout of 4440 and had made high of 4525 now that it has retraced and finding it's support near 4470 which is also 0.236 fib retracement level marked as Support-1, we are now expecting breakout above the level of 4500 which is it's immediate resistance, above that 4530 might act as an important resistance.

On the downside we have 4471, if broken price might see some deep correction, however that shouldn't be taken as shorting opportunity, it could be really risky, as bullish momentum is clearly visible and expected to continue.

Long entries should be preferred, breakout of consolidation in bullish direction should be your first priority for fresh longs.

For Educational Purposes only, Not an Investment Advice, Always use strict Risk management measures.

Regards CrazyTrades247.