Gold forms Bullish Gartley pattern, good to sell on rallies
Harmonic Pattern formed - Bullish Gartley
Potential Reversal Zone (PRZ) - $1165
Gold has retreated after making a high of $1239 (Feb 18th high) .It is currently trading around $1216. Short term trend is slightly bearish as long as resistance $1240 holds.
On the higher side any break above $1240 will take the commodity till $1260/$1275.
The minor support is around $1210 and break below targets $1198/$1180/$1165.
It is good to sell on rallies around $1220-$1225 with SL around $1240 for the TP of $1182/$1168
Potential Reversal Zone (PRZ) - $1165
Gold has retreated after making a high of $1239 (Feb 18th high) .It is currently trading around $1216. Short term trend is slightly bearish as long as resistance $1240 holds.
On the higher side any break above $1240 will take the commodity till $1260/$1275.
The minor support is around $1210 and break below targets $1198/$1180/$1165.
It is good to sell on rallies around $1220-$1225 with SL around $1240 for the TP of $1182/$1168
