Gold Potential Bullish Pinbar Reversal ?

16 août 2018

Continuing the discussion from yesterday, Gold daily chart is suggesting that prices might have found support at $1160 mark, slight lower than what was expected. Looking at the structure from December 2015 till now, the potential triangle consolidation still remains intact, with prices potentially testing lower support zone. Furthermore, today's pattern could be a bullish pin bar reversal, which could bring back bulls into play for a potential rally as wave E would unfold. If this structure holds, we could see prices pushing through the $1250/60 zone, which could be 61.8% of previous wave C, as highlighted here on the chart.


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