FxWirePro: Gold forms bullish Bat pattern, good to buy at dips

• Harmonic Pattern Formed - Bullish Bat Pattern
   
• Potential Reversal Zone (PRZ)- $1200
   
• The yellow metal has slightly recovered after making a low of $1208. It is currently trading around $1217.90
   
• Short term trend is slightly bullish as long as support $1200 holds.
• Any break below $1200 will drag the commodity down till $1180/$1170. Short term bullish invalidation only below $1170.
• On the higher side major resistance is around $1225 and break above targets $1240/$1250/$1261.

It is good to buy at dips around $1210 with SL around $1200 for the TP of $1240/$1250