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Short

Gold forms Bearish Gartley pattern, good to sell on rallies

FX:XAUUSD   Gold/U.S. Dollar
525 0 10
Harmonic Pattern- Bearish Gartley pattern

Potential Reversal Zone (PRZ) -$1285

The yellow metal has jumped till $1280 today morning and slightly retreated from that level. It is currently trading around $1275.50.

On the lower side major support is around $1260 (4 hours Tenken-Sen) and any break below targets $1250/$1238 (21 day MA)

Gold             has temporary top around $1284 (Mar 11th high) and declined till $1205.Any break above temporary top will confirm major trend reversal, a jump till $1300/$1310 is possible .

It is good to sell on rallies around $1280 with SL around $1286 for the TP of $1251/$1242
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