themarketzone

struggling with 1200.. Are we going to see a Garley in 1150?

FX:XAUUSD   Gold Spot / U.S. Dollar
As gold             still struggles with the 1200 resistance zone , it recently broke down below its latest daily uptrend line, which is not a good sign for the gold             bulls.
As long as gold             is inside the 1180-1200 zone, it can still try to accumulate strength for the breakout, but if the gold             will dive below the 1180, we may see a buying zone near 1155 as it will complete a bullish Gartley pattern.

Does the gold             need another push down before creating the actual breakout? We will get our answer in 2015.

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