Gold towards $1250/70 !

2 בנוב׳ 2018Gold, medium term structure remains unchanged for now, as the yellow metal raises past $1230 levels yesterday. The yellow metal is seen to be trading around $1232 levels at this point in writing and seems to be already on its way towards $1250/70 levels as discussed earlier. Looking into the 4H wave structure, the metal is into its proposed Wave C rally since the lows at $1182.50 levels earlier and within that it is looking to carve wave v of a lower degree. If the above structure holds to be true, we should see prices staying above $1210/12 levels and pushing higher towards at least $1250/70 levels. On a daily chart view, this proposed rally could be Wave E of a large triangle consolidation.


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