Gold forms Bullish Gartley pattern
Harmonic Pattern- Bullish Gartley pattern
Potential Reversal Zone (PRZ) -$1310.50
The yellow metal has broken major support $1330 and declined till $1323.06. It is currently trading around $1326.66.
On the lower side major support is around $1310.50 (Jul 20th low) and any break below targets $1300/$1292 (100 day MA)
Gold’s minor resistance is at $1335.78 which 38.2% retracement of $1356.39 and 1323.05. Any break above 38.2% retracement will take the commodity till $1343.65 (61.8% retracement of $1356.39 and $1323.05)/$1350/$1358.
It is good to buy on dips around $1323-$1325 with SL around $1310 for the TP of $1343/$1350
Potential Reversal Zone (PRZ) -$1310.50
The yellow metal has broken major support $1330 and declined till $1323.06. It is currently trading around $1326.66.
On the lower side major support is around $1310.50 (Jul 20th low) and any break below targets $1300/$1292 (100 day MA)
Gold’s minor resistance is at $1335.78 which 38.2% retracement of $1356.39 and 1323.05. Any break above 38.2% retracement will take the commodity till $1343.65 (61.8% retracement of $1356.39 and $1323.05)/$1350/$1358.
It is good to buy on dips around $1323-$1325 with SL around $1310 for the TP of $1343/$1350