Harmonic Pattern- Bullish BAT pattern
Potential Reversal Zone (PRZ) – $1115
- The commodity has broken major support around $1130 and declined till $1115. Gold short term support is around $1115 (61.8% retracement of $1071 and $1190.25) and break below targets $1105/$1095.
- The market awaits US ADP employment data and USD services PMI which is to be released today for further movement . But major focus is on Fed Chairman Yellen testimony post US open.
- On the higher side major resistance is around $1125 and break above targets $1136/$1150.
It is good to buy at dips around $1118 with SL around $1105 for the TP of $1136/$1149
The material has been provided by InstaForex Company – www.instaforex.com