Gold remains on track towards $1250/70 levels

20 בנוב׳ 2018

Gold remains bullish above $1195/96 levels, with immediate price resistance seen towards $1235 levels. Bulls could be looking to push through $1235/36 levels, before producing a meaningful retracement lower. Please note that the metal should remain above immediate price support at $1195/96 levels going forward and a safe trading strategy could be to buy on dips with stop loss at 1195 levels and potential take profit at $1250/70 levels respectively. Looking at the wave structure, Gold remains into a corrective rally A-B-C with waves A and B already in place at $1210 and $1180 levels respectively. Wave C could be unfolding into an a-b-c or a diagonal towards $1250/70 levels going forward. Overall, medium term bullish structure remains intact for now.


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