Gold: Murray levels analysis
D1. The pair hasn’t overcome an important level 6/8(1312.50), but has gone already below 5/8(1281.25). The intersection of CTD1 and CTW1 is getting close. Then we’ll be able to talk about working out a possible pattern of 8/8 – 4/8 – 7/8 – 0/8, but at the moment the first target is the level of 4/8(1250.00).
H4. Price has been trading in the oversold territory for a short time between the levels 0/8 (1281.25) and -1/8 (1273.44). After the break above CTH4 and intersection of CTH4 with CTD1, the target is CTD1. The increase above the level of 2/8(1296.88) in the near future is unlikely.