Gold might have carved a higher bottom at $1182.66

11 окт. 2018 г.

Gold rally towards $1196 levels instills further confidence that a higher bottom could be in place at $1182.66 levels already. The yellow metal may not produce another low before rallying further towards $1250/70 levels, going forward. Also, another push through initial resistance at $1208/09 levels will confirm that the yellow metal is in control of bulls and that any correction would remain well above $1182.66 mark. If the above structure holds well, we could see Gold prices unfolding into 5 waves from here towards $1250/70 levels at least. We maintain our medium term bullish bias in the yellow metal 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.