AbhishekHSinghCMT

Comex Gold - Selling for 1175-1180 & Bounce for 1400$ Later

Short
COMEX:GC1!   Gold Futures
11
S-L (Short First- Long Later)

1124$ is a strong level for Gold -against that Gold looks to poke above 1400+ dollars in coming day. An impulsive leg got over at 1265 from 1124 & currently in a corrective sequence which could get support in the zone 1175-1180$ -once confirmed about the support- one can look for a bounce target of 1400$+ in coming days.

The recent rally from 1194 to 1235 looks very sharp & could be connecting b-wave for the wave 1265 to 1194.

Trading Strategy
Once it sustains below 1218-1220$ -likely moves to 1175-1180 where it will search for support & later this support could be used to take long positions for target 1400$+ in coming days.

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

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