Myst_FX

Gold: Building a case for breakout

FX:XAUUSD   Gold Spot / U.S. Dollar
Completing a Bearish Bat (Red) Pattern at 1307s along trend-line resistance (Yellow) provides a pullback down bellow support level at 1197s. If the support holds, momentum will continue its bullish push past Key resistance trend-lines (yellow and red) to complete a Bearish Butterfly (Blue) pattern, thereby providing a pullback to retest former Resistance trend-lines Turned Support before making Higher Highs.
Nicely done! Target 1 hit at 0.382 Fib.
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