Forex VPS
Forex VPS
ForexFunction Logo

"Forex trading involves a high level of risk"

Forex VPS
 Market Comments |  Technical Indicator Signals |  Cross Pair Rates |  Live Spread |  Live Charts |  Daily Pivot Points

Gold forms Bearish Bat Pattern, good to sell on rallies : FxWirePro | November 23, 2017

Print PDF

Harmonic pattern formed – Bearish Bat pattern

Potential Reversal Zone (PRZ) - $1297.

Gold -0.18% has jumped sharply after FOMC minutes meeting. The yellow metal jumped till $1294.50 after Fed minutes showed concerns over weak inflation .The rate hike in Dec 0.06% is confirmed but there are growing doubts over three more hikes in 2018. US dollar index -0.07% broken major support at 93.40 (50- day MA) and dipped till 93.16 at the time of writing.

The yellow metals has formed Bearish Bat pattern and any major bullishness can be seen only above $1297. Any break above will take the gold -0.18% to next level till $1300/$1309 in the short term.

On the lower side, near term resistance is around $1281 (233- H MA) and any violation below will drag the commodity to next level till $1274/$1267. Short term weakness can be seen only below $1262.

It is good to sell on rallies around $1291-$1293 with SL around $1297 for the TP of $1281/$1274.

Submit Your Comments:

 Forex Trading VPS


Windows 2008/2012 | Server Location Amsterdam, France, Canada | Low Latency From Brokers| Super Fast Trading Experience | All types of EA supported | 3 Days Money Back Guarantee

Plan NameBuy Link CPU RAM Disk BandWidth Price (Montly)Price (Quarterly)Price (Semi-Annually )Price (Annually) InstallationBackUpSetup Fee
Economy buy now2 Core 756MB 15GB 1TB $6.50/M$6.20/M$5.90/M $5.50/M MT4 Pre-InstalledYesFree
Standard buy now 2 Core 1GB 25GB 1.5TB $8.50/M$8.20/M$7.90/M $7.50/M MT4 Pre-InstalledYesFree
Premiumbuy now 2 Core 2GB 40GB 2TB $16/M$15.50/M$15/M$14.50/M MT4 Pre-InstalledYesFree
Advanced buy now4 Core 3GB 60GB 2.5TB $26/M$25/M$24/M $22/M MT4 Pre-InstalledYesFree
Professionalbuy now 4 Core 4GB 80GB 3TB $33/M $32/M$31/M$29/MMT4 Pre-InstalledYesFree
Business buy now 4 Core 6GB 100GB 4TB$46/M $45/M$44/M$42/MMT4 Pre-InstalledYesFree
Platinum buy now 4 Core 8GB 120GB 6TB $59/M $58/M$57/M$55/M MT4 Pre-InstalledYesFree
Diamond buy now 4 Core 12GB 180GB 8TB $89/M $87/M$85/M$81/MMT4 Pre-InstalledYesFree

***We accept Neteller, Skrill, MasterCard, Paypal, Payza, Perfect Money, Webmoney !