themarketzone
Long

Gold up 30 dollars since entry - Now needs to break 1220

FX:XAUUSD   Gold/U.S. Dollar
In the Weekly Markets Analysis, I mentioned that 1180 will be a good entry level if the Gold             will reach it. As the gold             opened the week lower, I sent to the members an email that I'm buying gold             at 1190. Since than, the gold             rallied back above 1200 and now it is trying to break minor resistance near 1220.
We are back inside the weekly bullish harmonic PRZ. In case that $XAUUSD will manage to close above 1220$ it has the potential to climb all the way to the pattern's target near 1260.
Weekly Triple Bottom and Bullish harmonic pattern are quite good reasons to be bullish Gold             .. at least for the short term

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