Currency Analyst since 2010

Gold: Murrey levels

By Leonid Varfolomeev

D1. After a rebound from the 7/8 (1343.75) the price fixed below CTD1 but with the breakdown of 6/8 (1312.50) back to the upside. Given the presence of an uptrend and the fact that none of the CT hasn’t changed color to bearish, there’s a high probability of another go to CTD1 again and in case of a breakthrough there – to 7/8.

H4. The price is trading in a channel 3/8 (1296.88) – 5/8 (1328.13). Consequently, the most likely target is 3/8, and in case of a break lower – 2/8 (1281.25). The latter may happen, since pattern 6/8 - 2/8 is also possible. Growth to 5/8 will take place in case of the break below 4/8 (1312.50).

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