Gold forecast as on 1st Oct 2018

Discussion in 'FOREX and CFD forecasts (metals, shares, futures)' started by Vijay Gori, Oct 1, 2018.

  1. Vijay Gori

    Vijay Gori New Member

    IMG_20181001_181215.jpg Is Yellow metal ready for recovery? Currently XAU/USD is trading at around 1189.00 as on 1st Oct 12:30 GMT time. The yellow metal has face rejection at around 1184 almost twice and created double bottom pattern in 1 hour chart. It seems as of August months strong recovery from key level of prife 1160.00 has forced Gold to stop moving further down and its just going to create its first new upside wave cycle. As per technical charts prbablity is to move further atleast upto prise of 1275.
    Trading recommendations: Buy Gold from 1189.00.
    Stop Loss: 1179.00
    Target: 1275.00

    Please let me know your feedback. All traders are welcome here for their feedbacks.
  2. Francmorio

    Francmorio Member

    I believe Gold is downwards, and could go like that for a long time
  3. Vijay Gori

    Vijay Gori New Member

    My analysis shows to remain in buy as far as price stays above 1150.

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