Beware of yet another bull trap in Gold. $1180/85 insight ?
Gold remains unchanged for now, from what has been discussed since several trading sessions. The yellow metal remains bullish for the medium term with prices poised to potentially push through $1250/70 levels. For short term wave counts though, probability still remains for a push lower towards $1185 support zone as highlighted on the chart as an alternate B. Looking at the wave structure, a push lower towards $1185 levels could complete a complex correction that began from $1216 levels. Overall, bulls could remain in control till prices stay above $1160 levels going forward.
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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.