FX.co ★ Gold rallies now threatning to break higher towards 1,370/80 and 1,400.00

Technical outlook and chart setups:

The metal could be setting up to push higher above 1,348/50 soon enough. Initial support comes in at 1,315/17, followed by 1,270.00 and lower; while resistance is at 1,348/50, followed by 1,390/1,400, respectively as depicted here. It is recommended to exit short positions opened before and remain flat for now. The swing structure indicates that a push above 1,348.00 levels would rally towards 1,390/1,400, taking out resistance levels as depicted. On the flip side, failure above 1,348.00 would bring the price, at least, down to 1,244.00 on the downside. Waiting for reaction at 1,348.00 levels for a possible trade setup.

Trading recommendations:

Aggressive: Go long, stop at 1313.50, target is 1,380/1,400.

Good luck!