FX.co ★ Gold remains subdued between 1,570 and 1,585. Bullish breakout awaited

Technical outlook and chart setups:

As seen on the Daily Chart view here, the yellow metal has remained sideways since last 3 trading sessions between 1,570 and 1,585 levels. Believe it or not, it is just a matter of 1-2 days before breakout; and high probability remains on the bullish side. Support should be strong around 1550.00 level, followed by 1,525/30; while resistance begins from 1,630.00 level and higher. It is yet strongly recommended to hold on long positions for now and add further on intraday dips towards 1,570/75. Trading above 1,585.00 confirms breakout.

Trading recommendations:

Hold on to long positions, stop is at 1,530, and target is open. Please book partial profits around 1,630 and 1,650/60 levels.

Good Luck!