Technical outlook and chart setups:

Looking into the wave structure depicted on 4H chart view here, at least in the short term, wave structure remains constructive. Resistances are lined up at 1,650/60 levels and 1,680/85 respectively. The entire unfolding wave structure is ABC and a possible D at 1,660.00. The AB has formed between 1,555.00 and 1,620.00; a possible C has formed near 1,560.00 and the yellow metal seems to be on its way towards D at 1,660.00 level. Intermediary support levels are lined up from 1,580.00, 1,560.00 and lower towards 1,555.00. A push above 1,620.00 level now, would re-affirm the above possibility. Bottom line: The metal is strongly bullish above 1,555.00, and it is recommended to hold long positions.

Trading recommendations:

Hold on to long positions, stop is at 1,550.00, and target is open (book partial profits at 1,660.00).

Good Luck!