Gold prices have remained subdued for now by dropping towards $1218 levels at this moment of writing. Believe it or not, the structure still remains bullish till prices stay above $1212.00, going forward. At the same time, please also note that a drop below $1208 could indicate that a meaningful top is in place at $1245 levels and that the metal is looking lower again. Until the above event occurs, we shall remain optimistic about the counter trend rally that began from $1160 levels, to unfold into an A-B-C and terminate Wave C towards $1250/70 levels, going forward. Overall, we maintain our bullish outlook till prices stay above $1212 and broadly above $1208 levels.
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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.
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.