AbhishekHSinghCMT
Short

GOLD-- "Go to Brexit" (Impulsive Down Leg till 1255$ Expected)

COMEX:GC1!   GOLD FUTURES
134 2 5
24th June, on account of brexit effect...precious metals had huge rally starting from 1252$ to 1362$...This cycle is almost done@1362$- Post that we had a sharp fall till 1319--1320$ since then we have been moving range bound.
we are very close to start an impulsive down leg once we break the red rising trendline where gold futures             have been resting. once swing low@1319 gets broken & we remain under that red rising trendline or below 1340$ (Invalidation Level) we will be looking for down move till 1250$--from where gold             started its brexit day...so "go back to brexit".
Current Price--1328$
Trigger Point--1319$...Resistance Level-1340$
Current month futures contract has been taken for analysis.
Regards, Abhishek             H. Singh,CMT
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Yes ...sideways is extending...looking at the choppy movement it is doing...I am still open downside but 1315...recent new low should be broken --to continue downside..Keeping in mind 1340 -A tick above should be our stop...or fresh shorts one can take if 1315$ gives away..Regards.
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it broke the red trend line but still going sideways...
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