Gold remains bullish against $1195/96 levels!

29 nov 2018

Gold forms a bottom at $1211 levels and reverses sharply! The metal is seen to be trading around $1226 levels at this point in time and should be looking to push through immediate resistance at $1232 and further. Looking at the wave structure, Gold is seen to be unfolding into its Wave C higher towards $1250/70 levels. Furthermore, within the Wave C, the metal might have produced a potential wave i or a at $1230, followed by wave ii or b at $1211 now. If the above structure holds to be true, we could be witnessing a push higher towards $1250/70 levels as wave iii or c unfolds. Also note that prices should stay above $1211 levels and broadly above $1195/96 levels, for the above structure to remain valid. Overall, the medium term corrective wave structure A-B-C that began from $1160 levels remains bullish for now.


Disclaimer:

This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same