Gold - Plausible 1350-1375 Upside Zone Next

AbhishekHSinghCMT Updated   
COMEX:GC1!   Gold Futures
19:25 Hrs 17th Sep 2018

Last Price@1205.5

Important Resistance Zone - 1205 -1210 $

Since 2016 lows at 1045$, it has been moving in choppy fashion sideways and we are looking for higher moves next on long term basis – target zone of 1350-1375 which could be plausible within time period of 7-9 months ahead.

Short Term Strategy-

07:45 Hrs 17th Sep 2018

Last Price-1199 $

Plan A
Any push upside to 1200-1205 $ Range could be used to sell on short term basis with strict stops above 1210$ & downside target shall be 1195 & 1189$

Later once you get a fall in desired zone below 1190$ from 1200-1205 range –it could be used by risky traders to shift in the bull camp for higher targets as mentioned in long term strategy & most likely gets confirmed once it starts moving above 1210$

Safe Traders who want to trade gold on long side- should wait for prices to cross above 1210 & hold above 1205 for higher targets upside.

Long Term Strategy

Plan B
Any sustained move above 1210$ can be early sign for upside target of 1300 & 1350$ in days & months to come ahead.
Trade active:
07:20 Hrs 18th Sep 2018

Last Price@1202.5$

Falling Exactly from 1210 $ - Wow!

Trade active:
18:41 Hrs 20th Dec 2018

Last Price@1257$

As expected

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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