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Add as a preferred source on Google FxWirePro: Gold forms bullish Bat pattern, good to buy at dips Harmonic Pattern Formed - Bullish Bat Pattern Potential Reversal Zone (PRZ)- $1200 The yellow metal has slightly recovered after making a low of $1208. It is currently trading around $1217.90 Short term trend is slightly…
By FxWire Pro Apr 4, 2016, 6:03 AM UTC
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Harmonic Pattern Formed - Bullish Bat Pattern
Potential Reversal Zone (PRZ)- $1200
The yellow metal has slightly recovered after making a low of $1208. It is currently trading around $1217.90
Short term trend is slightly bullish as long as support $1200 holds.
Any break below $1200 will drag the commodity down till $1180/$1170. Short term bullish invalidation only below $1170.
On the higher side major resistance is around $1225 and break above targets $1240/$1250/$1261.
It is good to buy at dips around $1210 with SL around $1200 for the TP of $1240/$1250
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