themarketzone

Update - Two harmonic patterns in focus

AMEX:GLD   SPDR GOLD TRUST GOLD SHARES NPV
Gold is testing the PRZ of a bearish Gartley .
Last week Gold broke out of a trading channel... that's a bullish sign but GLD is still inside a resistance zone .
If it will break higher, the next potential Sell Zone will be at the completion of a bearish AB=CD pattern (pink).
In such scenario 130$, which act as resistance right now, will turn to potential support and therefore will be the first target zone.

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Comment: Reached first target zone (bearish Gartley)
Next target zone, if it'll break the channel, is 118$
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