Gold confirms bottom at $1180.50 levels ?

2 Eki 2018

We have been discussing a potential bullish reversal from around $1180 levels since long now. The yellow metal made a low at $1180.50 levels, last Friday, before reversing sharply through $1192.00 levels. This story could well be an indication of a meaningful bottom having formed at $1180.50 levels and that bulls might be poised to print higher highs and higher lows from here. Please note that prices have bounced from a 62% retracement of the previous rally between $1160 and $1216 levels respectively. It could be safe to assume that Gold could initiate its rally towards $1250/70 levels any time, until prices remain above $1180.50 levels. A break below $1180.50 levels could test $1172 levels before resuming higher again.


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