Gold prices hit above expected target at $1270 levels!

26 dic 2018

Gold prices exceeded the projected extensions today by pushing above $1270 mark. It is seen to be trading around $1274 levels at this point in time and is expected to find resistance any time soon. Please note that the corrective rally (A-B-C), that had begun from $1160 levels seems to be now complete with Wave C hitting potential targets above $1274 levels. Also note that the higher degree triangle structure (not shown here), also looks to be complete now, with Wave E unfolding into 3 waves A-B-C and terminating around the $1270 plus mark. It is good to remain flat for now, and take all profits on the long positions initialized earlier. We shall be looking to sell on a bearish reversal soon.


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