Gold: Murray levels analysis
D1. While pattern 8.8 – 8.4 – 7.8 – 0/8 wasn’t confirmed by the bearish intersection of CTW1 and CTD1, it surely can’t create a required impact on the market. The pair approached the level of 6.8 (1312.50) and, apparently,a fter it breaks above it we’ll be ableto talk about the growth to 8.7 (1343.75). The pair’s drop from the current levels to CTW1, given the upward trend, is unlikely.
H4. The intersection of CTD1 and CTH4 took place, thus creating preconditions for growth. In addition, possible movement of the pair in the channel from the level 8.3(1304.69) to 05.08(1320.31) is in favor of bulls. Given the recent rebound from 5/8 and a stop at 3/8, this is very likely.