Gold daily patterns confirmed – harmonics, fibonacci, murrey lines
– confirmed daily support harmonics (butterfly bullish) 1131,43 usd, also murrey line 1/8 1140,63– possible 3,91 usd
– then nice pullback to 50% fibonacci retracement with harmonics (gartley bearish) and murrey match line 7/8, resistance 1238,30 usd
– now small support 1171-1173 usd ( harmonics zone + murrey line 3/8)
Data showed the US economy grew at a 5.0 per cent clip in the 3rd quarter, its quickest pace in eleven years and the strongest sign yet that growth has decisively shifted into higher gear. Gold was trading close to a 3-week low on Wednesday as strong US economic growth boosted equities and the dollar, weakening safe-haven bids for bullion.