Gold found support at $1220 levels ?

2018년 11월 27일

Gold prices did drop lower as discussed earlier, but seems to have found support early at $1220 levels. Please note that structurally the metal could still drop lower towards $1217 and up to $1210 levels as well, before turning higher again. At a higher degree, Gold is into an A-B-C corrective rally since lows at $1160 levels earlier, and is further progressing into Wave C into probable 5 waves. If the above structure holds good, we could see prices rallying towards $1250/70 levels before deciding further course. Immediate price support is seen at $1195/96, while resistance is seen through $1236 and $1244/45 levels respectively. A push through resistance would add further confidence to the bullish outlook.


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