Gold hourly story has been bullish after printing lows at $1188 levels recently. The yellow metal is seen to be trading around $1205 levels at this point in writing and could be pushing higher towards $1250/70 levels as well. Please note that Gold has bounced off the fibonacci 0.382 support of the earlier rally between $1160 and $1215 levels. It is safe to assume that till $1188 levels remain intact, prices could be expected to push higher from here. As an alternate though, if Gold would want to carve a more complex structure, it could reverse lower towards $1185 levels before resuming rally. Overall, the metal remains bullish either against $1188 or $1180/85 (if prices reach there).
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.
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.