Gold: Murray levels analysis
D1. As we expected, the price faced resistance at 4/8(1250.00) and CTW1. The bearish trend will be confimed only after a break below CTD1. This will likely happen in the nearest future.
H4. The pattern 8/8 – 5/8 – 7/8 – 4/8 will likely continue. Pause at 5/8(1226.26) signals a potential bounce. The upside remains limited however: CTD1 color remains unchanged. The price could also fall towards 4/8(1218.75) from the current levels.