Gold direction intact towards $1250/70

9 thg 10, 2018We had discussed yesterday that according to the price action unfolding, we would bring out alternate scenario wave count in Gold. Prices dropped below $1192.50 yesterday, which changes the wave structure but potential bullish scenario could be intact. The yellow metal could be producing a combination while the corrective rally unfolds. A probable wave count presented here could be a W-X-Y in the making, and if prices manage to stay above $1180 levels, we could witness a sharp rally from current levels pushing towards $1250/70 levels. On the flip side, a drop below $1180 would only delay matters for the proposed rally towards $1250 levels.


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