BULLISH OUTLOOK ON GOLD
Gold has encountered strong support on at 1915 Level, with several repeated tests of that support despite strong data coming out during NY session
From Harmonic pattern perspective, we have a Bullish Bat Pattern completing at that level 1917 level, corresponding with other confluences such as trendlines, and 50% fib retracement on the 4hr chart from the previous uptrend.
I expect price to retest resistance at 1948-1950 level before continuing lower.
From Harmonic pattern perspective, we have a Bullish Bat Pattern completing at that level 1917 level, corresponding with other confluences such as trendlines, and 50% fib retracement on the 4hr chart from the previous uptrend.
I expect price to retest resistance at 1948-1950 level before continuing lower.
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