GOLD 1-2-3 Pattern Targets 1650 and Beyond

Dear Traders,

Gold is very bullish. A recovery in the price of Gold was quickened by the risk-off sentiment which prevailed in the markets.

1580-1600 zone is bullish. If the price manages to stay above 1600 watch for 1-2-3 pattern above 1641.In that case the target will be 1652. Above 1652 we should see a retest of 1700 zone. The price needs to stay above 1550 else the trend might change again. At this moment, bulls are fully in control.

The Analysis has been done with the CAMMACD.Core and Sit Systems

 

This article was originally posted on FX Empire

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