Gold remains just shy to hit $1246/50 levels!

7 thg 12, 2018

Gold might be unfolding into its last wave at a lower degree at this point, and prices might be hitting $1246/50 anytime soon. The metal is trading around $1241 levels at this point in time and looks like its into a sideways movement at a lower degree before it bursts higher to $1246/50 levels. Looking into the wave structure though, Gold is still working on a higher degree Wave C, within an A-B-C corrective rally that began from $1160 levels earlier. Immediate resistance is seen through $1246 while support is seen at $1216 respectively. Ideally, prices would stay above $1228 levels to keep the impulse structure at the lower degree intact. Overall, the short to medium term outlook remains bullish .


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