Gold: Murray levels analysis
D1. The price is trying to return to the area of CTD1, located between the levels of 3/8 (1218.75) and 4/8 (1250.00). Nevertheless, the pattern of 8/8 – 4/8 – 7/8 – 0/8, which was mentioned a month ago starts to affect the price: this led to the intersection of CTW1 and CTD1. At the moment, we can’t rule out a global rebound to the 4/8 area.
H4. The break above CTH4 will open the way to the level of 3/8 (1234.38) and CTD1, which together may limit the bulls. The decline to 4/8 (1250.00) with the absence of any bullish reversal levels is unlikely.