FxWirePro:Gold forms bullish Cypher Pattern, good to buy at dips

• Harmonic pattern: bullish Cypher pattern
   
• Potential Reversal Zone (PRZ) -$1190.
   
• The yellow metal has broken major support $1225 and declined till $1214.75. It is currently trading around $1217.75.
   
• Short term trend is slightly bullish as long as support $1200 holds.
   
• Any break below $1200 will drag the yellow metal down till $1190/$1175 in short term.
   
• On the higher side major resistance is around $1225 and break above targets $1241/$1258.
           
• Short term bullish invalidation only below $1168.

It is good to buy at dips around $1210-$1215 with SL around $1199 for the TP of $1241/$1257