Harmonic Trading pattern: Bullish Cypher
Potential Reversal Zone (PRZ) – $1108
- Gold has decline till $1124 after making a high of $1156. It is currently trading @ $1126.
- On the downside major support is around $1108 and any break below will drag the pair further down till $1100/$1080.
- The pair’s minor resistance is around $1135 and break above will target $1150/$1160.
- Overall trend reversal only above $1160.
It is good to buy at dips around $1110-15 with SL around $1098 for the TP of $1145/$1156
The material has been provided by InstaForex Company – www.instaforex.com