Analysis of Gold for October 16, 2018
Recently, Gold has been trading upwards. As I expected, the price tested the level of $1,232.00. According to the H4 time – frame, I found the end of the 30-day downward correction (abc flat) in the background, which is a sign that buyers are in control. Most recently, I have found a potential end of the downward correction (running flat), which is another sign of strength. My advice is to watch for buying opportunities. The take profit levels are set at the price of $1,234.35 and at the price of $1,266.60.