Gold Downside minimum PnF Target 1265-1272 Area. Watch out !!!
My 1St View Sl Hit Again Once Sorry 4 All... My 2nd View Below 1341.20......My View 1337.20 And More Down Side Till 1334.93....
The gold chart is interestingly poised. There is a nice consolidation highlighted by the turquoise color box. Price has subsequently retested the top of this box and turned around. A move past $1,370 would be a good signal to buy yhe yellow metal.
As per Elliott Wave Theory, the gold charts indicates a completion of a Flat ABC Correction that signals a new wave to upside. This is a good time to invest or take a swing trade position in this before the festive season begins in India where we generally see rise in the Gold market. Take positions with stoploss at 87200 Target 1: 90000 then Target 92400.